Just want to make sure i'm understanding this correctly.
If a policy undergo a decrease in face amount in the first 7 years, then the new TAMRA premium would be used as if it's the issuing TAMRA premium. My question is on if this is based on issue age or attained age?
For example, age 50 face amount 50k, decided to decrease it to 25k at age 55. Does this mean the TAMRA premium used is 25k calculated at age 55 or 50?
I thought it was 55, friend of mine thought it was 50. Just want to get a 2nd/3rd/4th opinion on it.
Thanks
If a policy undergo a decrease in face amount in the first 7 years, then the new TAMRA premium would be used as if it's the issuing TAMRA premium. My question is on if this is based on issue age or attained age?
For example, age 50 face amount 50k, decided to decrease it to 25k at age 55. Does this mean the TAMRA premium used is 25k calculated at age 55 or 50?
I thought it was 55, friend of mine thought it was 50. Just want to get a 2nd/3rd/4th opinion on it.
Thanks
TAMRA premium