Cash surrender value, or nonforfeiture
value, is the sum of money an insurance company will pay a policyholder if he or she decides to cancel the policy before it expires or before he or she dies.
Adopting the new method requires amendments to state standard valuation and standard nonforfeiture
laws for life insurance policies.
The CSO tables are smooth mortality tables used for conservative nonforfeiture
value calculations for the protection of the insurer (a major concern of insurers and regulators) and do not anticipate extraordinary health changes in individuals but only anticipate aggregate group mortality change characteristics.
Needless to say, the above illustration is merely meant to show how wadi'ah works to provide for the nonforfeiture
defendant violated ERISA's nonforfeiture
provisions); see also
The basic and diluted weighted average number of shares outstanding for the three and twelve months ended September 30, 2009 have been retroactively adjusted to reflect the adoption of new Earnings Per Share authoritative guidance requiring the inclusion of unvested share-based payment awards containing nonforfeiture
rights to dividends or dividend equivalents in the calculation of basic weighted average number of shares outstanding.
challenged in court for violating ERISA nonforfeiture
As a result, preneed insurance policies issued on or after January 1, 2009, and before January 1, 2012 can use the 2001 CSO Mortality tables that lists different mortality rates for men and women to determine the minimum standard for reserves and nonforfeiture
provision shall be appropriately captioned;
benefit option provides a shortened benefit period if the policy lapses after three years due to nonpayment of contributions.
Among the improvements to the policies offered in California are the removal of the mental health exclusion from the Preferred Advantage product series, the revised nonforfeiture
benefits that provide for a minimum nursing facility benefit after three years of premium payment, and the redefined simple and compound inflation computations.
Offer an optional nonforfeiture
benefit, providing for some return on premiums paid or reduced benefits, even if the policyholder quits paying the premium after a minimum period of time.