With Profit alterations principles Flashcards
1
Q
Acronym
A
FALCETS
2
Q
F
A
Fairness in terms of extracting suitable profit / recovering costs
3
Q
A
A
Affordability - asset share
4
Q
L
A
Lapse and re-entry avoided
5
Q
C
A
Consistency boundary conditions
6
Q
E
A
Ease of calculation & explanation to PHs
7
Q
T
A
Tax status - changes to
8
Q
S
A
Stability i.e small change in benefit leads to small change in premium
