With respect to life insurance (particularly universal life insurance), it is the premium at issue with respect to future benefits that are provided by the contract. This premium would be required on the date the policy is issued in order to financially cover the future benefits under the insurance contract, based on a set of elements : 1) reasonable mortality charges (as per a set of regulatory requirements, if any, that usually do not exceed the mortality charges defined in the prevailing commissioners’ standard tables as of the time the contract is issued; 2) any reasonable charges that are reasonably expected to be paid; 3) and interest at the greater of an annual effective rate of a set percentage (e.g., 60%) or the rate or rates guaranteed on issuance of the contract.