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| Author: | Alexander, N. |
| Title: | Understanding Life Insurance Illustrations |
| Journal: | Journal of Accountancy
2003 : FEB, VOL. 195:2, p. 70-72 |
| Index terms: | LIFE INSURANCE ACCOUNTANTS ACCOUNTING ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | For CPAs, the key to reading life insurance illustrations is to examine them carefully, focusing on several critical areas. This skill will put accountants in a better position to advise clients on policy provisions. CPAs who are new to insurance may find they are sometimes confused by policy illustrations. In truth it's not easy to digest the complex information they present without some training. Insurance illustrations are what the industry gives clients to help them understand a policy. They are simply hypothetical representations that reflect the critical assumptions the company used to compute policy results. Insurance illustrations often contain 20 pages of densely packed numbers and legal disclaimers. Here are some tips for CPAs on how to read them and what to look for. |
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