Reserve Pattern

[shikhaagarwalParticipant]

yatinchawla wrote:

Abhinandan7 wrote:

Term assurance can be both level or decreasing. In level, single lump sum is paid should the death happen within the term. For decreasing what I said earlier.

Variations are always possible in any financial structure. You can check the products of any company (LICI etc.) and your thought might differ.

You’ll get to know more about all these in your actuarial journey latter.

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Assurance products always guarantees a single lump sum payment on the death of the policyholder.

The products that you are talking about are different variation of annuities and not assurance.

Sent from my Redmi Note 4 using Actuarial Info mobile app

Exactly. I agree.

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[abhinandan7Participant]

हाँ भाई #Single lump sum ही decrease होके मिलेगा, या फिर dependant को  regular income until term ends.

It is that decreased single lump sum which allows the possibility of regular income latter.

this is what I meant be Decreasing term assurance.

[abhinandan7Participant]

Abhinandan7 wrote:

हाँ भाई #Single lump sum ही decrease होके मिलेगा, *या फिर* dependant को  regular income until term ends.

It is that decreased single lump sum which allows the possibility of regular income latter.

this is what I meant by Decreasing term assurance.

“If the contract is a decreasing term assurance contract then it may provide a lump sum

on death, a lower amount being paid the later the death occurs in the contract term, or

the contract may provide an income for the rest of the contract term”

 

[Author]

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