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Appendix A: Survey Questions
Survey Questions
Please provide information related to your Company. Policy Count Face amount Premium
1 How much term business did you write 2013?
2 How much term business do you have inforce as of year end 2013?
3 How much non-term life insurance did you write in 2013?
4 How much non-term life insurance do you have inforce as of year end 2013?
5 How much converted term business is inforce as permanent in 2013?
6
7
8
Which of the following are part of your conversion program?
Most popular term
written today
Most popular term
written 5 years ago
9 Do you accept conversion of term that originated from another company?
a
Is there a limited time frame/max years from issue that conversions are allowed
from other companies? If yes, please specify in comments.
Is there a maximum face amount that you allow to convert from another
company? If yes, please specify the maximum.
Do you require any underwriting when a conversion from another company is
requested?
Do you accept term conversions from more than one company? If yes, please
specify in comments.
Can you track these policies separately from other conversions?
10 Do you allow partial conversion (partial conversion defined in definition tab)?
a
Do you limit the time frame during which partial conversions are allowed? If yes,
please specify in comments.
Do you limit the number of partial conversions allowed? If yes, please specify
limit in comments.
Do you have a minimum size required for a partial conversion? If yes, please
specify in comments the minimum size.
Is partial conversion a contractual right?
Is partial conversion an administrative practice?
11 Do you give conversion credit?
a
How much is the conversion credit (Ex. Unearned premium or annualized
premium for prior year)? (please comment)
Is conversion credit commissionable on the permanent policy?
Is conversion credit available through the entire conversion period?
If conversion credit is not available for entire conversion period, how long is it
available? (please comment)
Have you ever offered conversion credit as a special program to incent
conversion?
12 Do you allow two separate single policies to convert to a joint life policy?
a
Do you require the original term policies to have been issued at same time?
If the original term policies are not in the same duration, how do you establish
the age/duration in the new joint policy? (please comment)
Are the term policies required to have the same issue date?
If you do not require the polices to have the same issue dates, how do you
determine the duration of the permanent policy for the COI?
14 Do you allow a joint term policy to convert to two single life policies?
15 Do you allow a joint term policy to convert to a joint permanent policy?
16 Do you allow simplified issue product to convert to a fully underwritten product?
17 Do you restrict conversions to certain products?
a Do you have specific product(s) for conversions?
b Do you allow conversions to whole life only?
c Do you allow conversions to secondary guarantee UL products?
d Other (please specify in comments section)
18 Is the underwriting class the same after as before conversion?
19 Can the underwriting class improve upon conversion?
20 Can the underwriting class be degraded upon conversion?
21 Do you allow conversions in the first year?
a
Is there a minimum time frame that the term needs to be inforce before
converting?
22 Do you ever underwrite a conversion?
a When do you underwrite? (please comment)
b Why do you underwrite? (please comment)
c What do you underwrite? (please comment)
d
What do you require when underwriting is done at conversion? (please
comment)
23 Do you allow any rider(s) to be added upon conversion?
a Do you require underwriting on the rider(s)?
b What rider(s) can be added? (please specify in comments section)
c
What riders cannot be added that are typically available on new products?
(please specify in comments section)
24 Do you require any rider(s) to lapse upon conversion?
a Which rider(s) are forced to lapse upon conversion? (please comment)
25 Do you allow term to term conversions?
a What type of term product is being converting from? (please comments)
b What type of term product is being converted to?(please comments)
26 Do you allow term products to convert to an existing permanent policy?
a Does the existing permanent policy have to have been originally underwritten?
b
Do you charge newly select rates (new issue) at the attained age?
Do you charge point-in-scale rates from the original issue age?
Do you allow two or more term policies on the same insured to convert into one
permanent policy?
Please estimate on average how much of your term business converts each year?
Please provide your best estimate of the mortality expectation for converted
business of a percentage of non-converted business
Please provide details of your conversion privilege by plan code on the 'conversion
privilege by plan tab' to help tie to the study
See "conversion privilege by plan" tab