Secondary Guarantees for Unit-linked Life Insurance – the Need, Features and Reserving
Presented on the 12th Global Conference of Actuaries, 2010, Genpact's white paper "Secondary Guarantees for Unit-Linked Life Insurance—the Need, Features and Reserving" introduces ULIP products and the effects of Lapse, Secondary Guarantee and the methods of their estimation. Both the consumer and insurer's perspective is provided for these secondary guarantees. Also covered are regulatory reserves calculated in the US insurance market for ULIP products with secondary guarantees.
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