IC38 LIFE INSURANCE AGENT EXAM - Study Notes
Page 33 Of 62
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Surplus is the excess of value of assets over value of liabilities. If it is negative, it is known as a strain.
Surplus = Assets - Liabilities
Assets are valued in one of the following three ways - Book Value, Market Value, Discounted Present Value
At Book Value - This is the value at which the life insurer has purchased or acquired its assets
At Market Value - The worth of the life insurers assets in the market place
Discounted Present Value - Estimating future income stream from various assets & discounting them to present
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