Assumptions Current Assumptions Expense Assumptions Grading Guaranteed Assumptions Interest Rates Mortality Rates Nonguaranteed Pricing Assumptions Realistic Assumptions Standardized Assumptions Assumptions lie at the heart of actuarial work. 2017 – SOA – The Great Assumptions Debate, American Academy of Actuaries – [link] <Wishlist: archived slides and audio> More importantly for permanent plans, the actuary can utilize a…

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WishLists WishList – Index Illustrations – WishList Adjustable Life Examples – Minnesota Mutual, Bankers Life, Principal Life Deposit Term / Deposit Whole Life Executive Life Insurance Company Illustrations Metzenbaum We’ve seen the problems that have occurred when Senator Howard Metzenbaum (D–OH) was given an illustration with a vanishing premium, and he had absolutely no idea…

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NAIFA – National Association of Insurance and Financial Advisors, fka NALU Formerly known as NALU (National Association of Life Underwriters)  naifa.org belong.naifa.org/history advisor.naifawashington.org/ Gary Sanders (National Association of Insurance and Financial Advisors—NAIFA) agreed that use of the term “cash value” was confusing. 2017 0217 – NAIC – LIBGWG Conference Call While life insurance is not…

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LIMRA – Life Insurance Marketing and Research Association limra.com/ limra.com///company/ 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary  —   [BonkNote]  —  10p LOMA, parent organization, LL Global Robert Kerzner “Trends in Life Insurance Ownership” study – <WishList> Our research generally indicates that the public can be best described…

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1990s – NAIC – LIAC – Life Insurance (A) Committee – NAIC Proceedings Index 1990-1A Product Development Task Force ☐Policy Information Form for Applicants on Universal Life Policies (Attachment One)  ….453 ☐Consumer Disclosure Issues Working Group November 17, 1989 Report (Attachment Two) ………….463 ☐September 11, 1989 Report (Attachment Three) ……….464 ☐LIMRAs Universal Life Disclosure Form Focus Group…

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Manipulation, Lapsation, Dividend Practices and Annuity Disclosure Task Force (A) – NAIC 1982-2, NAIC Proceedings 1983-2 NAIC Proceedings 1983-4 NAIC Proceedings actuary.org/content/academy-journal-1982 1981 0602 – AAA – Journal, American Academy of Actuaries  Statement 1981-12 – p144-155 – 12p 1982-2, NAIC Proceedings – (524-526) – ACLI to NAIC – Statement on Behalf of the American Council…

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Universal and Other New Plans Task Force – A – NAIC 2. Discussion of task force charges Commissioner Hager (Iowa) indicated that two components of the task force charges were to be the focus of the discussion: (1) the activity of the actuarial task force and; (2) whether there are disclosure problems with universal and…

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More Task Forces, Working Groups, etc – NAIC Transparency and Readability of Consumer Information Working Group (70’s) Life Insurance Disclosure (C3) Task Force Consumer Participation (EX4) Subcommittee, 1980-2 NAIC Proc. 166 Manipulation, Lapsation, Dividend Practices and Annuity Disclosure, 1983-2 NAIC Proc. 612 Market Conduct Surveillance (EX3-c) Task Force, 1983-4 NAIC Proc. 257 Life Insurance Taxation…

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NGEs – Non-Guaranteed Elements Assumptions COI – Cost of Insurance Coverage Period Dynamic Interest Rate Unbundled Benefits Coverage Period Historical Performance Performance Policy Performance, Variability, UL Description Non-Guaranteed Elements Work Group – NGEWG – AAA 2022 – SOA – Overview of Nonguaranteed Elements (NGEs), Society of Actuaries – 22p I have a theory that the…

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Illustrations – Snippets 1982-1, ACLI (American Council of Life Insurers) – NAIC Proceedings The American Council of Life Insurance (ACLI) presented a paper on cost disclosure for universal life products..,..Further, the policy summary should include a statement on the point at which the policy will expire based on the policy guarantees and the anticipated premiums shown in…

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