Factors Affecting Life Insurance Premiums, Endowment Value, Reduced Paid Up Option, and Guaranteed Insurability Rider
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Premium for Guaranteed Insurability Rider
Based on the attained age of the insured
Determining the face value
Based on the net amount of cash value at the time of exercising the option
Premium computation exclusion
Cost of living has no effect on premiums
Reduced paid up nonforfeiture option
Determines the face value of the new policy
Factors affecting life insurance premiums
Includes mortality rate, investment experience, and operating expenses
Rights of the policyowner
Includes receiving the endowment proceeds
Premium computation factors
Mortality rate, investment experience, and operating expenses
Grace period for premium payment
Past due premium is not a consideration
Endowment value recipient
The policyowner