Life and Health Insurance,9780135329955

Life and Health Insurance

by ;
Edition: 13th
ISBN13: 9780135329955
ISBN10: 0135329957
Format: Paperback
Pub. Date: 2000-01-01
Publisher(s): Prentice Hall
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Summary

This book is a revision of its predecessors, the first of which was published in 1915, and contains major revisions to the last edition. We continued our effort to alter the book's emphasis on purely factual information about the life insurance industry, its products, and its operations to one that combines current information with its environment, theory and use in the life and health insurance marketplace.

Table of Contents

Preface xv
PART I INTRODUCTION TO LIFE INSURANCE
Life and Health Insurance in Personal Financial Planing
1(17)
Personal Financial Planning
2(3)
The Elements of a Personal Financial Plan
5(11)
The Financial Planning Team
16(1)
Interrelationship Between Business and Personal Financial Planning
17(1)
Life and Health Insurance Fundamentals
18(28)
Principles of Insurance
18(2)
Pricing Individual Life and Health Insurance
20(26)
The History, Role, and Importance of Life and Health Insurance
46(28)
A Brief History of Life Insurance
46(2)
Early Mutual Insurers
48(9)
Life Insurers as Financial Institutions
57(5)
Life and Health Insurance Ownership in the United States
62(1)
Life Insurance Internationally
63(5)
Life Insurance and the Individual
68(4)
Life Insurance and Society
72(2)
PART II TYPES OF LIFE INSURANCE PRODUCTS
Introduction to Life Insurance Products and Their Environment
74(24)
Recent Life Insurance Product Innovations
74(8)
Overview of Types of Life Insurance
82(2)
Term Life Insurance
84(11)
Endowment Insurance
95(3)
Whole Life Insurance Policies
98(26)
The Nature of Whole Life Insurance
98(4)
Types of Whole Life Insurance Policies
102(18)
Recent Efforts of Enhance Value Within Existing Policies
120(4)
Flexible-Premium Life Insurance Policies
124(23)
General Nature of Flexible-Premium Life Insurance Policies
124(2)
Universal Life Insurance
126(17)
Variable Universal Life Insurance
143(1)
Flexible Enhanced Ordinary Life
144(1)
Life Insurance Policy Comparison Chart
145(2)
Annunity and Special-Purpose Policies and Benefits
147(30)
Annunities
147(17)
Special-Purpose Life Insurance Policies
164(6)
Optional Benefits and Riders
170(7)
PART III ASPECTS OF LIFE INSURANCE EVALUATION
The Life Insurance Contract: I
177(33)
Introduction
177(2)
The Policy as a Contract
179(15)
The Law as it Pertains to the Agent
194(5)
Provisions Protecting the Policyowner
199(8)
Provisions Protecting the Company
207(3)
The Life Insurance Contract: II
210(27)
Provisions Providing Policyowner Flexibility
210(21)
Creditor Rights in Life Insurance
231(6)
Life Insurance and Annuity Cost Analysis and Disclosure
237(38)
The Life Insurance Purchase Decision
237(1)
Life Insurance Policy Cost Analysis
238(24)
Annuity Contract Cost Analysis
262(1)
Cost and Benefit Disclosure
263(6)
Life Insurance Policy Replacement Regulation
269(4)
Appendix
273(2)
Insurance Advisor and Company Evaluation
275(51)
Insurance Advisor Evaluation
275(16)
Life Insurance Company Evaluation
291(25)
Appendix A
316(4)
Appendix B
320(2)
Appendix C
322(2)
Appendix D
324(1)
Appendix E
325(1)
PART IV USES OF LIFE INSURANCE IN PERSONAL FINANCIAL PLANNING 326(706)
Life Insurance Planning
326(48)
Introduction
326(1)
The Individual and Economic Security
326(3)
The Economic Basic for Life and Health Insurance
329(1)
The Human Life Value Concept
330(8)
Life Insurance and Psychology
338(2)
The Environment for Life Insurance Planning
340(10)
The Life Insurance Planning Process
350(24)
Life Insurance and Annuity Taxation in the United States
374(33)
Income Tax Treatment of Life Insurance
374(13)
Income Tax Treatment of Annuities
387(1)
Federal Estate Tax Treatment of Life Insurance and Annuities
388(14)
Gift Tax Treatment of Life Insurance and Annuities
402(3)
Generation-Skipping Transfer Tax
405(2)
Life Insurance in Estate and Retirement Planning
407(32)
Estate Planning
407(20)
Retirement Planning
427(12)
Business Uses of Life Insurance
439(37)
Key-Employee Indemnification
439(3)
Enhancement of Credit
442(1)
Business Continuation Arrangements
443(13)
Special Employee Compensation Plans
456(18)
Corporate-Owned Life Insurance Funding of Postretirement Benefits
474(2)
PART V THE USES, TYPES, AND EVALUATION OF HEALTH INSRANCE
Individual Health Insurance: I
476(20)
Introduction
476(2)
Individual Medical Expense Insurance
478(5)
Long-Term-Care Insurance
483(6)
The Health Insurance Contract
489(2)
Provisions in Health Insurance Contracts
491(5)
Individual Health Insurance: II
496(16)
Disability Income Insurance
496(12)
Business Uses of Disability Income Insurance
508(3)
Tax Treatment of Individual Medical Expense and Disability Income Insurance
511(1)
PART VI THE MATHEMATICS OF LIFE AND HEALTH INSURANCE
Fundamentals of Life Insurance Mathematics
512(26)
Measurement of Risk in Life Insurance
512(18)
Underlyin Principles
530(8)
Net Premiums
538(19)
Introduction
538(1)
Net Single Premiums
538(14)
Net Level Premiums
552(5)
Life Insurance Reserves and Cash Values
557(28)
Reserves
557(14)
Cash Values
571(4)
Regulation of Reserves and Cash Values
575(10)
Gross Premium Rate Structures and Nonguaranteed Policy Elements
585(31)
General Considerations in Deriving Gross premiums
585(3)
Developing the Tentative Gross Premium Rate Structure
588(2)
Testing the Tentative Gross Premium Rate Structure
590(8)
Other Aspects
598(3)
Surplus and Its Distribution
601(15)
The Mathematics of Health Insurance
616(23)
Principles of Rate-Making
616(8)
Annual Claim Costs
624(5)
Premium-Rate Variables
629(3)
Health Insurance Reserves and Other Liabilities
632(4)
Surplus Distribution
636(3)
PART VII SELECTION AND CLASSIFICATION IN LIFE AND HEALTH INSURANCE
Life and Health Insurance Underwriting: I
639(25)
The Purpose of Underwriting
639(3)
Underwriting Philosophy
642(4)
Factors Affecting the Risk
646(14)
Methods of Risk Classification
660(4)
Life and Health Insurance Underwriting: II
664(28)
Classifying Substandard Risks
664(7)
Special Underwriting Practices
671(3)
Sources of Information Concerning Life and Health Insurance Risks
674(6)
Laws Affecting Underwriting
680(4)
Reinsurance of Life Insurance Risks
684(5)
Reinsurance of Health Insurance Risks
689(3)
PART VIII EMPLOYEE BENEFIT PLANS
Social Insurance
692(24)
Introduction to Employee Benefit Plans
692(1)
Social Insurance Programs
693(3)
Old-Age, Survivors, Disability and Health Insurance Program
696(14)
Other U.S. Social Insurance Plans
710(4)
International Social Insurance Programs
714(2)
Group Insurance
716(30)
Group Insurance Fundamentals
716(8)
Group Life Insurance
724(15)
Group Disability Income Insurance
739(2)
Alternatives for Group Insurance Plan Funding
741(5)
Health Care Plans
746(45)
The Health Care Environment in the United States
746(11)
Health Insurance Providers
757(4)
Comprehensive Health Insurance Plans
761(6)
Medical Expense Insurance Benefits
767(4)
Cost Control Components
771(9)
Flexible Benefits Plans
780(2)
Other Medical Expense Insurance Plans
782(2)
Taxation of Group Health Insurance
784(1)
Health Care Financing and Coverage Issues
785(6)
Retirement Plans
791(33)
Introduction
791(1)
Concepts of Pension Plan Design and Operation
792(11)
Methods of Financing
803(6)
Insured Pension Contracts
809(6)
Other Retirement Plans
815(6)
Multinational Pooling of Employee Benefits
821(3)
PART IX ORGANIZATION, MANAGEMENT, AND REGULATION OF LIFE AND HEALTH INSURANCE COMPANIES
Life Insurance Company Organization and Management
824(29)
Life Insurance Company Formation
826(3)
Conversion From One Type of Insurer to Another
829(5)
Holding Companies
834(3)
Corporate Governance
837(1)
Home Office Organization and Administration
837(8)
Life Insurer Management
845(5)
The Financial Services Marketplace
850(3)
Life Insurer Financial Management
853(25)
Life Insurer Risk
853(4)
The Cash Flow Nature of Life Insurance
857(6)
Analyzing Life Insurance Cash Flow
863(6)
Managing Life Insurance Cash Flow
869(6)
Surplus Management
875(3)
Life Insurer Investment Management
878(25)
Introduction
878(4)
Investment Risk
882(2)
Investment Assets
884(9)
Investment Portfolio Construction
893(6)
Asset Quality and U.S. Regulatory Initiatives
899(4)
Life Insurer Financial Reporting
903(37)
Introduction
903(1)
Financial Reports
904(2)
Life Insurance Accounting Principles
906(7)
The Annual Statement
913(14)
Managerial Accounting
927(7)
Economic Value Analysis
934(2)
Regulatory Developments in Financial Reporting
936(4)
Marketing Life and Health Insurance
940(35)
Developing and Maintaining a Marketing Program
941(2)
Distribution Systems
943(11)
Agency Measurement
954(8)
Product Development
962(6)
Marketing Trends
968(7)
Regulation and Taxation of Life Insurance in the U.S.
975(57)
The Rationale for Insurance Regulation
976(5)
Background of U.S. Insurance Regulation
981(5)
Areas of Federal Insurance Regulation
986(2)
The Mechanism of State Regulation
988(3)
Areas of State Regulation
991(22)
The Regulation of Life Insurance Internationally
1013(6)
Taxation of U.S. Life and Health Insurers
1019(13)
Index 1032

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