Question

What is the Discontinued Policy Fund / Discontinued Policy Account Value?

a.

A fund set aside for paying policy benefits

b.

A segregated fund constituted by the fund value of all active policies

c.

A segregated fund constituted by the fund value of all discontinued policies

d.

A fund set aside for insurer's administrative expenses

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).A segregated fund constituted by the fund value of all discontinued policies Explanation:The Discontinued Policy Fund / Discontinued Policy Account Value is the segregated fund/policy account of the insurer that is constituted by the fund value/policy account value of all the discontinued policies.

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