Accelerated death benefit rider financing approaches
By Stephanie Scholz and Robert Eaton
03 June 2022
Living benefit riders to life insurance policies—also known as ‘combo’ or ‘hybrid’ policies—have become a core component of life insurance sales strategy. This article, published in June on the Society of Actuaries website, outlines industry practice and consideration for pricing of acceleration-only policies, a hybrid product where riders provide policyholders the opportunity to receive a portion of the policy’s death benefit in advance, under certain conditions. In the article, we discuss the following:
- Financing methods under NAIC model regulation
- Standards of the Interstate Insurance Product Regulation Commission
- Other jurisdiction variations
Read the full article here.
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