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Product Implementation
Prepares product specifications, which can be followed by programmers. The specifications will show how to calculate all policy values, charges, maximum withdrawals and maximum loans. In addition, specifications will show how to comply with IRC 7702(a)(1), IRC 7702(a)(2), IRC 7702 A and IRC 7702(f)(7)(B).
Applicable spreadsheets will be provided with monthly policy values with detailed charges. Ÿ
LPD will work closely with system representatives and completely test the systems prior to releasing the product.
Testing the proposal system will include policy values as well as various sales concepts such as Deferred Compensation, Split Dollar and Group Carveout.
Testing the policy administration system will include policy values, policy forms and schedule pages, policyholder reports, confirmation statement, accounting feeds and reinsurance feeds if applicable.
Testing the plan administration system will include policy values as well as the transfer of extracts from the policy administration system to the plan administration system.

Assistance with Pertinent Documents
LPD will create the initial draft of the policy form, application and the prospectus or private placement offering memorandums.
In creating the policy form, LPD will ensure that the policy form will be flexible enough for the insurer to offer certain enhancements to the product with minimum efforts with respect to refilling, if any.
Application form will be drafted in such a way that all type of underwriting can be accomplished with one application form and also the policy can be issued in the corporate market as well as individual market.
These drafts need to be reviewed by the representatives of the insurer. Further, insurer will undertake the responsibility with respect to the applicable format of the policy form and application form.

Assistance with Filing
LPD will either assist the insurer or subcontract an organization which would be responsible for filing and provide its assistance. LPD’s experience with respect to obtaining approval of innovative features in crucial states will shorten the duration of time to obtain approval in an overall cost effective manner.
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Copyright Life Product Developers, Inc. 2008 (203) 746-0559 email: kparankiri@lifeproductdevelopers.com