This may best be illustrated by an example:
A policy is signed on 8/31/2021 with an issue date of 2/1/2022. The contract states that after it is signed, preliminary term coverage begins and persists until the issue date. The first premium is collected at 2/1/2022. The fiscal year-end is 12/31/2021.
Based on the definitions in the NAIC Annual Statement Instructions, I believe this would NOT be counted in exhibit of life insurance (no premium paid therefore not an issued count); however, I would expect them to be in Exhibit 5 Section A because there are liabilities on the life contract.
Is a population inconsistency like this expected between the two exhibits, or is this interpretation too literal and we would expect both the reserve in Exhibit 5 and the Count/Amount in Exhibit of Life Insurance?