...loading... ↑
≡

user comments

thank you, come again!
Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

ASOP 2 | §2.4 | NONGUARANTEED ELEMENT \(NGE\)

Any premium, charge, or benefit within an insurance policy that 1) affects policy costs or values, 2) is not guaranteed in the policy, and 3) can be changed at the discretion of the insurer. An NGE may provide a more favorable value to the policyholder than a guaranteed element. For the purpose of this ASOP, an NGE reflects expectations of future experience as opposed to, for example, a dividend, which reflects participation in past experience. Examples of premiums, charges, or benefits that can be changed at the discretion of the insurer may include credited interest, cost of insurance (COI) charges, bonuses, indeterminate premiums, index parameters used to determine credited interest, and expense charges.
ASOP 2 | Commentary Section 2.4 | COMMENT ON SECTION 2.4
Section 2.4, Nonguaranteed Element
CommentResponse
One commentator suggested rewording the second sentence for clarity.The reviewers agree and clarified the language accordingly.
One commentator suggested changing “can be changed at the discretion of the insurer” to “may be changed...”The reviewers disagree and made no change.
Congratulations! You're now Froogled Up™ on Section 2.4 from ASOP 2!

Feel free to use it throughout your financial/insurance life.

Sincerely,



www.FroogleMe.com
iconAllInOne All-in-One iconAllCmmts All Comments iconEnvlp Transmittal Memorandum iconExclmtnPnt Disclaimer iconAdobePDF Original Source Document
logoHTML Constitutions: US
logoRegulations Regulations
iconFindText Declaration of Independence iconFindText Emancipation Proclamation iconFindText 10 Commandments
You Might Also Like
All-in-One Section 2: Definitions