Dave Kester said:
On 1/21/2009 9:09:25 AM
Basically there are two types of ROP term plans. The plan that has been around the longest returns the premium in the form of a death benefit. AG CCC was not intended to address these types of products. Rather, it addresses the new type of ROP Term plan that returns the premiums in the form of an endowment. Note from the guideline that the endowment must be materially less than the death benefit and it must be at an intermediate time (e.g. 20 years of a Term to 95 plan).