Question
a.
Reduction in policy term (increase in policy term is generally not allowed, as it could cause reduced premiums)
b.
Change from one mode of premium payment to another (e.g. from monthly mode to yearly mode)
c.
Change from whole life plan to endowment plan (this is rare, but insurers do permit)
d.
Discounting of policy in the last year [usually with no penalties]
Posted under IC 92 Actuarial Aspects of Product Development
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