保险学原理chapter6(共36张PPT).pptx

Permanent Life Insurance and Endowment Insurance 培训专用Chapter OutlinewPermanent Life Insurance wa Newer Generation of Permanent ProductswEndowment Insurance 培训专用Permanent Life InsurancewTraditional whole life insurancewmodified whole life insurancewjoint whole life insurancewlast survivor life insurance wfamily policieswmonthly debit ordinarywpre-need funeral insurance培训专用Permanent life InsurancewTwo characteristics:offer lifetime coverageprovide Insurance coverage and contain a savings element.培训专用wWhole life insurance life insurance that provides lifetime insurance coverage at a level premium rate that does not increase as insured ages.wCash value the savings element of a permanent life insurance policy,which represents the policyowners ownership interest in the policy.培训专用Traditional Whole life InsurancewPolicy loan a loan that an insurer makes to the owner of a permanent life insurance policy and that is secured by the policys cash value.培训专用Premium Payment PeriodswContinuous-premium policieswlimited-payment policieswsingle-premium policies培训专用Continuous-premium policieswPremium are payable until the death of the insured.培训专用Limited-payment policieswIs a whole life policy for which premiums are payable only until some stated period expires or until the insureds death.wExamplea 20-payment whole life insurance is a policy for which premiums are payable for 20 years.A paid-up-at-age-65 whole life insurance policy provides that premiums are payable until the insured reaches the policy the anniversary closest to or immediately following her 65th birthday.培训专用Limited-payment policieswPaid-up policy a policy that requires no further premium payments but continues to provide coverage.wCash value generally build more rapidly under limited payment policies than they do under continuous premium policies.培训专用Single-premium PolicieswIs a type of limited-payment policy that requires only one premium payment.培训专用Modified Whole Life InsurancewFunctions in the same manner as a traditional whole life policy except that the policys annual premium changes after a specified initial period,such as 5,10,15 or 20 years.wThe face amount of a modified-premium whole life policy remains level throughout the life of the policy.培训专用Modified Whole Life InsurancewThe chief advantage to the policyowner of buying a modified premium whole life insurance is that he is able to purchase a larger amount of whole life insurance than he would otherwise be able to afford.wThe chief disadvantage is that the cash value builds more slowly.培训专用Modified CoveragewA modified coverage policy provides that the amount of insurance will decrease by specific percentage or amount either when the insured reaches certain stated ages or at the end of stated periods.wFor examplethe face amount of a modified coverage whole life insurance policy may begin at$100,000,decrease to$75,000 when the insured reaches age60,decrease further to$50,000 at age 70,and remain level for the rest of the insureds lifetime.w 培训专用Joint Whole Life Insurance wHas the same features and benefits as individual whole life insurance,except that it insures two lives under the same policy.wFirst-to-die life insurance培训专用Last survivor life insurancewAlso known as second-to-die life insurance is a variation of joint whole life insurance under which the policy benefit is paid only after both people insured by the policy have died.培训专用Family PolicieswWhich is a whole life insurance that includes term life insurance coverage on the insureds spouse and children.wThe amount of term insurance coverage is generally one-fourth or one-fifth of the amount of the insureds whole life insurance coverage.培训专用Monthlly Debit OrdinarywIs a whole life insurance policy that is marketing under the home service distribution system and is paid for by monthly premium payment.培训专用Pre-need Funeral Insurance培训专用A Newer Generation of Permanent ProductswUniversal life insurancewadjustable life insurancewindeterminate premium life insurancewinterest-sensitive whole life insurancewvariable life insurancewvariable universal life insurance培训专用Universal Life insurancewIs a form of permanent life insurance that is characterized by its flexible premiums,its flexible face amount and death benefit amounts,and its unbundling of the pricing factors.培训专用Unbundled Pricing FactorswMortality Chargesthe insurer periodically deducts a mortality charge from the universal life policys cash value to cover the mortality risk the insurer has assumed.培训专用Unbundled Pricing FactorswInterestthe policy guarantees that the insurer will pay at least a stated minimum interest rate on the policys cash value each year.培训专用ExpenseswThe following expenses charges may be imposed:a flat charge the first policy year to cover sales and policy issue costsa percentage of each annual premium to cover expensea monthly administration feespecific service for coverage changes,cash withdrawals,and policy surrenders.培训专用Flexibility Features wFace amount and amount of death benefitwflexible premiums培训专用How a Universal Life Policy Operates培训专用Effects of Regulation on Universal Life ProductswInsurance product or investment productwtax treatmentwpolicys cash value and the face amountwsurrender charges培训专用Periodic reportswSample annual report or a universal life insurance policy培训专用Indeterminate Premium Life Insurance wIs a type of nonparticipating whole life insurance that specifies two premium rates-both a maximum guaranteed premium rate and a lower premium rate.培训专用Interest-sensitive Whole Life InsurancewA type of indeterminate premium life insurance which provides that the policys cash value can be greater than that guaranteed I changing assumptions regarding mortality,investment,and expense factors warrants such an increase.培训专用Variable Life Insurance wIs a form of whole life insurance under which the death benefit and the cash value of the policy fluctuate according to investment performance of a special investment.wSeparate account.培训专用Variable Universal Life Insurance培训专用Endowment InsurancewProvides a specified benefit amount whether the insured lives to the end of the term of coverage or dies during that term.wMaturity date.培训专用questionswIdentify the features of whole life insurance,modified whole life insurance,and joint whole life insurance and recognize how these plans of insurance differ from one another.wIdentify the characteristics of Universal Life Insurancewdistinguish between universal,variable,and variable universal life insurancewdescribe the characteristics of endowment insurance培训专用谢谢观看/欢迎下载BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES.BY FAITH I BY FAITH培训专用内容总结Permanent Life Insurance and Endowment Insurance。pre-need funeral insurance。Continuous-premium policies。First-to-die life insurance。Pre-need Funeral Insurance。adjustable life insurance。variable life insurance。谢谢观看/欢迎下载培训专用