保险学InsuranceChapter11分析.ppt

Chapter 11 Life Insurance Variations of Whole Life Insurance An indeterminate-premium whole life policy is a generic name for a nonparticipating policy that permits the insurer to adjust premiums based on anticipated future experience After an initial guaranteed period, the insurer can increase premiums up to the maximum limit if the insurer’s experience is expected to worsen Other Types of Life Insurance A modified life policy is a whole life policy in which premiums are lower for the first three to five years and higher thereafter Preferred risk policies are sold at lower rates to individuals whose mortality experience is expected to be lower than average (e.g., a non-smoker) Second-to-Die life insurance insures two or more lives and pays the death benefit upon the death of the second or last insured Usually whole life, but can be term Other Types of Life Insurance Savings Bank Life Insurance (SBLI) is a type of life insurance that is sold by savings banks Policies were sold originally by savings banks in Massachusetts, NY and Connecticut SBLI is also sold over the phone or through Websites Historically, industrial life insurance was a class of life insurance that was issued in small amounts and an agent of the company collected the premiums at the insured’s home Also known as home service life insurance Group life insurance provides life insurance on a group of people in a single master contract * * * * * * Transparency Master 1.2 * * * * Transparency Master 1.2 * * * * * * * * * * * * Transparency Master 1.2 * * Copyright ? 2011 Pearson Prentice Hall. All rights reserved. 11-* Copyright ? 2011 Pearson Prentice Hall. All rights reserved. Agenda Premature Death Financial Impact of Premature Death on Different Types of Families Amount of Life Insurance to Own Types of Life Insurance Variations of Whole Life Insurance Other Types of Life Insurance Premature Death The death of a family head with outstanding unfulfilled financial obligations can cause serious fina