June 2020 – Page 6

Universal Life and Related Plans of Life Insurance and Annuities – NAIC FIRST: 1983-2, NAIC Proc. LAST: 1988-2, NAIC Proc. Ill. FUNDED PLANS OF LIFE INSURANCE (UNIVERSAL LIFE) AND ANNUITIES (LATER CHANGED TO UNIVERSAL LIFE AND RELATED PLANS OF LIFE INSURANCE AND ANNUITIES) A. General Features The Technical Staff Actuarial Group discussed the appropriateness of…

1983-1 As you know, revolutionary changes are taking place in the life insurance business. To a large extent, these changes have passed regulators by, and have left the regulators in a position of trying to catch up. — J. Alan Lauer – Deputy Insurance Commissioner 1983-1, NAIC Proceedings Task Force on Valuation and Nonforfeiture…

Variable Life Insurance Task Force – NAIC In December 1981 the NAIC created a special Variable Life Insurance Task Force, which also reports to the Life Insurance(A) Committee. There is a Variable Products Advisory Committee, which reports directly to the group. Jerome S. Golden, of Monarch Resources Inc., in New York, New York, is the…

Richard Weber ethicaledgeconsulting.com/ dick-webers-presentations/ NAIC Consumer Rep Merrill Lynch completemarkets.com/article/article-post/2437/%E2%80%98stop-the-world-i-want-to-get-off-%E2%80%99/ Executive Life, 1980s LC – Walker v LSW 2023 11 – JFSP – Journal of Financial Service Professionals – When Is a Premium Not a Premium: Part 1, by Richard M Weber and Gerard J. Vanderzanden – Vol. 77, No. 6 – p31-36 – [link] 2024…

Language Semantics Words and Concepts Insurance policies may be balm for the afflicted but they are murder on the English language. 1976 0811 – NYT – New Policy Arises In Insurance Field Readable Language, By Israel Shenker – [link] We cannot play word games with policyholder money. (p74) — Karl L. Rubenstein, Special Deputy Insurance Commissioner, State…

The Actuary – Illustrations 1988 The Actuary Illustrations a Call to Action Daphne Bartlett

Vanishing Premium Vanishing Premium – Lawsuits Robert Beck, Prudential, Chairman and Chief Executive Office RE: Vanishing Premium (p6069) – Under some permanent insurance, contracts being sold today, the chances are you could stop paying after 7, 8, or 9 years and the insurance would remain in force for the rest of your life without further…

Manipulation Manipulation, Lapsation, Dividend Practices and Annuity Disclosure (A) Task Force 1981 – DETECTING POSSIBLE MANIPULATION: THE PEER REVIEW APPROACH – SOA – Moderator: JULIUS VOGEL. Panelist: WALTER N. MILLER – 12p Ms. Edwards requested the wishes of the subcommittee as to whether the task force should address the question of manipulation with inforce policies. Upon…

CFA – Consumer Federation of America consumerfed.org/ Formerly NICO – National Insurance Consumer Organization Insurance is not a product like a can of peas. (p23) — J. Robert Hunter, Director of Insurance, Consumer Federation of America 2003 1022 – GOV (Senate) – Federal Involvement in the Regulation of the Insurance Industry, (CSPAN) – Insurance Industry Regulation, John McCain (R-AZ) 3. Heard a…

James Hunt 1995 – JIR / NAIC – Life Cost Disclosure: Prospects for True Reform, by James H. Hunt – 20p JIR Consumer Federation of America Insurance Commissioner – Vermont? 1982 NAIC Proceedings – UL = WL 199x NAIC Proceedings – LIBG – Call UL Permanent STATEMENT OF JAMES HUNT, FSA, DIRECTOR NATIONAL INSURANCE CONSUMER…