net level premium reserve
The net level premium reserve is a premium reserve established for level premium ordinary life insurance policies in their initial years of coverage to offset inadequate premiums charged in later years.
net level premium reserve
The net level premium reserve is a premium reserve established for level premium ordinary life insurance policies in their initial years of coverage to offset inadequate premiums charged in later years.
Additional Information
The net level premium reserve is based on the amount of excess premium charged in the initial years plus the interest earned on the accumulated excess premium. As long as the net level premium reserve exists for a policy, it comprises part of that policy's death benefit.
