Credit Life Insurance Rates - Excel by qdl92053

VIEWS: 30 PAGES: 6

More Info
									                                             COVER PAGE
                                          CREDIT LIFE REPORT                             This w
                                                                                         protec
                                            STATE OF MAINE                               work a
                                                                                         acces
For Calendar Year:
NAIC number:                                                                             If you
                                                                                         enteri
Company Name:                                                                            Hoop
Address1:                                                                                Insura
Address2:                                                                                (207
City - State - Zip:
                                   City                     State    Zip                 Send
                                                                                         email
Completed By:                                                                            Mary.
Position:
E-Mail:
Phone / Fax:
Case:




Form Updated: 8-23-2006
   D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls         11/21/2010
   CoverSheet                                                              Page 1 of 6
                                                   FORM L1
                         CREDIT LIFE INSURANCE SUMMARY REPORT
                                      STATE OF MAINE

Company Name:             Please complete Cover Page
NAIC number:              Please complete Cover Page
Year Ending:              Please complete Cover Page

CASE:        Please complete Cover Page

Classes of Business (Check all that apply):
   (a) credit unions                                  (e) other sales finance
   (b) commercial & savings banks                     (f) production credit associations; bank agricultural loans
   (c) finance companies                              (g) all others
   (d) motor vehicle dealers

Mode of Premium Payment:                                          Plan of Benefits:
  Outstanding Balance (Monthly Premium)                               Check one or both:
   Single Premium                                                     Decreasing
   Revolving Account                                                  Non-Decreasing
   Fixed Monthly Premium




                                        MONTHLY PREMIUM PER $1000
                                                                                  Single Life       Joint Life
Present Case Rate (Current Rate)
Calculated Case Rate (from Form L2, Line J) (Indicated Rate)
Case Rate to be Used
Effective Date of Last Rate Revision*
Effective Date of New Rates or Renewal
 Date of Present Rates

The information above and on Forms L2, L3 and L4 attached is true to
the best of my knowledge.

Signed:
             (signature not required if filed electronically)
Name:
             (Type or Print)
Position:

E-Mail:

Phone:

          * Enter the date the rates were initially implemented if there have not been any rate revisions.

   D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls                                                  11/21/2010
   L1                                                                                                               Page 2 of 6
                                                FORM L2
                         CREDIT LIFE INSURANCE SUMMARY REPORT
                                      STATE OF MAINE

Company Name:           Please complete Cover Page
NAIC number:            Please complete Cover Page
Year Ending:            Please complete Cover Page

CASE        Please complete Cover Page



                                                               MAINE EXPERIENCE LAST THREE YEARS
                                                             SINGLE           JOINT       TOTAL
                                                                          (from Form L3)
A. Earned Premium at Prima Facie Rate                               0.00           0.00       0.00

B. Incurred Losses                                                     0.00               0.00              0.00

C.* 1. Number of Life Years Covered                                      0                   0                0

   2. Number of Claims Incurred                                          0                   0                0



D. Credibility Factor (from table)                               XXX                XXX                 0.000
(Use TOTAL factor for both SINGLE and JOINT)
E. ** Prima Facie Rate                                           0.500             0.840              XXX

F. ** Prima Facie Claim Cost                                     0.315             0.630              XXX

G. Expected Losses [A x F/E]                                           0.00 +             0.00 =            0.00

H. Actual/Expected Ratio [B/G]                                   XXX                XXX               0.000%
(Use TOTAL ratio for both SINGLE and JOINT)
I. Deviation [D x (H - 1) x F]                                       0.000             0.000          XXX

J. Deviated Rate [E + I]                                             0.500             0.840          XXX




* Complete either C.1. Or C.2., as elected in writing pursuant to Section 11 of Rule - Chapter 220.
** If Prima Facie Rates or Claim Cost are modified from standard, explanation is required.




   D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls                                           11/21/2010
   L2                                                                                                        Page 3 of 6
                                                 FORM L3
                       CREDIT LIFE INSURANCE EXPERIENCE REPORT
                                     STATE OF MAINE

Company Name:               Please complete Cover Page
NAIC number:                Please complete Cover Page
Year Ending:                Please complete Cover Page

CASE:      Please complete Cover Page

                                                  MAINE EXPERIENCE LAST THREE YEARS

                              Year Ending:                                                    TOTAL
                                                                            (from L4)
SINGLE LIFE
A. Earned Premium at Prima                                                        0.00           0.00
   Facie Rate

B. Incurred Losses                                                                0.00           0.00

C.
           Number of Life Years                                                                      0



           Number of Claims                                                                          0

JOINT LIFE
A. Earned Premium at Prima
   Facie Rate                                                                     0.00           0.00

B. Incurred Losses                                                                0.00           0.00

C.
           Number of Life Years                                                                      0



           Number of Claims                                                                          0




              * Complete either C.1. Or C.2., as elected in writing pursuant to Section 11 of Rule
                                                 Chapter 220.




     D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls                                     11/21/2010
     L3                                                                                                  Page 4 of 6
                                               FORM L4
                              CREDIT LIFE INSURANCE WORKSHEET
                                        STATE OF MAINE

Company Name:          Please complete Cover Page
NAIC number:           Please complete Cover Page
Year Ending:           Please complete Cover Page

CASE:    Please complete Cover Page



1. Actual Earned Premiums                                            Single          Joint
        a. Gross premium written (before deduction for
            Dividends and Experience Rating Credits)
        b. Refunds on Termination
        c. Net [a - b]                                                        0.00           0.00
        d. Premium reserve, beginning of period
        e. Premium reserve, end of period
        f. Actual Earned Premiums [c + d - e]                                 0.00           0.00

2. Prima Facie Earned Premiums
        a. Insured Balance [See Section 9.D (3) of Rule]
        b. Earned Premium at prima facie rate
           [Single: (a x .00050); Joint: (a x .00084]                         0.00           0.00

3. Incurred Claims
         a. Claims paid
         b. Unreported claims, beginning of period
         c. Unreported claims, end of period
         d. Claim reserve, beginning of period
         e. Claim reserve, end of period
         f. Incurred claims (a - b + c - d + e)                               0.00           0.00

4. Loss Ratio
         a. Actual loss ratio (3f/1f)                                     0.000          0.000
         b. Loss ratio at prima facie rate
            (3f/2b)                                                       0.000          0.000

5. State basis for incurred but unreported claims:

Single




Joint




   D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls                           11/21/2010
   L4                                                                                        Page 5 of 6
                                     LIFE CREDIBILITY TABLE
            # of Life Years                     # of Claims Incurred
    Low Range           High Range         Low Range          High Range   Credibility Factor
         1                 1,799                1                   8            0.00
       1,800               2,399                9                  11            0.25
       2,400               2,999               12                  14            0.30
       3,000               3,599               15                  17            0.35
       3,600               4,599               18                  22            0.40
       4,600               5,599               23                  27            0.45
       5,600               6,599               28                  32            0.50
       6,600               7,599               33                  37            0.55
       7,600               9,599               38                  47            0.60
       9,600              11,599               48                  57            0.65
      11,600              14,599               58                  72            0.70
      14,600              17,599               73                  87            0.75
      17,600              20,599               88                 102            0.80
      20,600              25,599              103                 127            0.85
      25,600              30,599              128                 152            0.90
      30,600              39,999              153                 199            0.95
      40,000                                  200                                1.00




D:\Docstoc\Working\pdf\2bc85ad2-c32c-4cc6-9a18-be907149e36c.xls                             11/21/2010
Life Credibility Table                                                                      Page 6 of 6

								
To top