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Request for Proposal Requirements Fundamental to Pricing


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To provide the best possible quote for new business, we request the following data be provided.
Experience Analysis
  • Actual mortality experience
  • Actual lapse experience
  • Actual conversion experience
  • ANB or ALB
  • Mortality table used (75-80, VBT, etc.)
  • Unique modifications

Underwriting
  • Retention limits
  • Auto binding limits
  • Jumbo limits
  • Preferred criteria
  • Build chart
  • Age and amount requirements
  • Underwriting manual
  • Chief Underwriter's name and phone number

Reinsurance Arrangement
  • Coinsurance or YRT
  • First dollar quota share or excess retention
  • Expected number of reinsurers in pool

Distribution of Business
  • Volume of sales (count, amount)
  • Mix of business (plan, band, class)
  • Average policy size by premium band
Reporting
  • Reinsurance system
  • System version

Plan Specifications
  • Plan description
  • Premium bands
  • Premium rates
  • Issue age limits
  • Maturity age/duration
  • Policy fee
  • Riders to be reinsured
  • Copy of Conditional Receipt
  • Copy of Temporary Insurance Agreement
  • Pattern of cash value

Pricing Assumptions
  • Experience mortality rates
  • Experience lapse rates
  • Experience conversion rates
  • X-factors

Please call our Sales office at
704.344.2771about these and other
requirements.


Experience    Life Reinsurance    Pricing    Treaty    Underwriting    

This page last updated: 1/8/2009 1:52:12 PM