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Business Definition for: adjusted premium method

adjusted premium method

method of calculating the life insurance policy's cash surrender value (CSV) not contingent upon the calculation of the policy's reserve method of calculating the life insurance policy's cash surrender value (CSV) not contingent upon the calculation of the policy's asset share value of the policy as required by the standard nonforfeiture laws According to this method of determining the CSV, the following steps are taken: (1) arriving at the first year expense allowance; (2) arriving at the adjusted premium ; and (3) substituting the adjusted premium for the net level premium used in the equation for arriving at the prospective reserve .

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