Calculate reserves for no-lapse guarantees.
Free SOA Exam ALTAM (Advanced Long-Term Actuarial Mathematics) lesson in Universal Life Insurance. 15 min read, ~2,212 words.
An NLG keeps a UL contract in force past the point where the account value runs out, provided a premium test is met. Two test designs dominate. A cumulative premium test compares paid premiums to a stipulated schedule. A shadow account tracks a virtual fund using guarantee-basis credits and charges...
Read the full lesson, free →
Worked examples, audio narration, and practice. No signup to read.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- 6b
Browse all free Exam ALTAM lessons or jump into free Exam ALTAM practice questions.