Cost Comparisons – Words and Concepts

“In addition, a special LIAA-ALC-ILI Committee on Life Insurance Costs was formed to study life insurance cost comparison methods.” MR. ROBERT G. BRAUND
1969, Life Insurance Net Cost Comparisons, Society of Actuaries

The most obvious, though not necessarily accurate, basis of comparison of policies of the same initial or minimum face value is the premium.

1976/9/9 – RE: PROPOSED CHANGES TO THE NAIC MODEL VARIABLE LIFE INSURANCE REGULATION, ACLI

“For cost comparison purposes, the natural unit price for insurance is dollars of Premium per thousand dollars of death benefit per year—adjusted as appropriate and cash surrender values.” COMMENTS BY THE AMERICAN COUNCIL OF LIFE INSURANCE <ACLI> ON THE FTC STAFF’S RESPONSES TO CRITICISMS OF THE REPORT ON LIFE INSURANCE COST DISCLOSURE
1979 – FTC STUDY OF LIFE INSURANCE COST DISCLOSURE, HEARINGS BEFORE THE COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION  –  UNITED STATES SENATE

References

1976, SOA, Cost Comparisons and Policy Language

1980 – SOA – AN EXTENSION OF THE NAIC SYSTEM FOR
LIFE INSURANCE COST COMPARISONS, by Charles Trowbridge