Credit Life Insurance
Presumptive Premium Rates
Exhibit 21
Class E Alone
|
Plan |
Plan Description |
Rate |
||
|
1 |
Single Premium, Reducing Coverage, Single Life |
* |
$0.245 |
per year per $100 initial insured indebtedness |
|
2 |
Single Premium, Level Coverage, Single Life |
* |
$0.470 |
per year per $100 insured indebtedness |
|
3 |
Outstanding Balance, Revolving Loan, Single Life |
$0.392 |
per month per $1000 outstanding insured indebtedness |
|
|
4 |
Outstanding Balance, Other, Single Life |
$0.392 |
per month per $1000 outstanding insured indebtedness |
|
|
5 |
Single Premium, Reducing Coverage, Joint Life |
* |
$0.367 |
per year per $100 initial insured indebtedness |
|
6 |
Single Premium, Level Coverage, Joint Life |
* |
$0.705 |
per year per $100 insured indebtedness |
|
7 |
Outstanding Balance, Revolving Loan, Joint Life |
$0.587 |
per month per $1000 outstanding insured indebtedness |
|
|
8 |
Outstanding Balance, Other, Joint Life |
$0.587 |
per month per $1000 outstanding insured indebtedness |
All Classes Except Class E
|
Plan |
Plan Description |
Rate |
||
|
1 |
Single Premium, Reducing Coverage, Single Life |
* |
$0.322 |
per year per $100 initial insured indebtedness |
|
2 |
Single Premium, Level Coverage, Single Life |
* |
$0.617 |
per year per $100 insured indebtedness |
|
3 |
Outstanding Balance, Revolving Loan, Single Life |
$0.514 |
per month per $1000 outstanding insured indebtedness |
|
|
4 |
Outstanding Balance, Other, Single Life |
$0.514 |
per month per $1000 outstanding insured indebtedness |
|
|
5 |
Single Premium, Reducing Coverage, Joint Life |
* |
$0.482 |
per year per $100 initial insured indebtedness |
|
6 |
Single Premium, Level Coverage, Joint Life |
* |
$0.926 |
per year per $100 insured indebtedness |
|
7 |
Outstanding Balance, Revolving Loan, Joint Life |
$0.772 |
per month per $1000 outstanding insured indebtedness |
|
|
8 |
Outstanding Balance, Other, Joint Life |
$0.772 |
per month per $1000 outstanding insured indebtedness |
* Single premium rates for plans 1, 2, 5, and 6 must be multiplied by the discount factor which is restated as follows:
Discount Factor = (1/(1 + ((i X n)/24)))
Where n = term of insurance coverage in months and i = .035