or As a result of the declining interest rates during the first ten years, the amount accumulated in the deposit fund after ten years is less than anticipated when the contract was issued, and less than necessary to keep the contract in force for the long term if the original “target premium” assumptions were continued.…

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1989-1 4a Special Plans – Universal Life – Review Regulators Problems with Model Adopted (Product Development Task Force) (On hold) Universal Life The advent of universal life brought with it many nonforfeiture concerns. Unlike adjustable life, where a current plan is defined, but is subject to change, a universal life policy at any time has…

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Fiduciary Advice Incidental Advice DOL – Fiduciary Rule – Department of Labor  Fiduciary Duty Relationship (p54) – 1:34-1:41 – Eric DINALLO, Superintendent, New York State Insurance Department – Well, I think it’s important for everyone to know there’s a very strong tension between policyholders’ interest and shareholders’ interest in a publicly traded company. The board and management…

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1989-2 5. Report of the Financial Services and Insurance Regulation (EX) Task Force Commissioner William Hager (Iowa) presented the report noting that the task force had adopted amendments to the Model Act Relating to Unfair Methods of Competition and Deceptive Acts and Practices in the Business of Insurance to address the issue of insurance agents…

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Academic Scholars Joseph Belth Brenda Cude Stephen D’Arcy Mark Dorfman OC Ferrell Shauna Ferris Martin Grace Sandra Gustavson Gary Gorton Scott Harrington Solomon S. Huebner Jacob Jacoby Spencer Kimball – Law Robert W. Klein Jeremy Kress – Law Thomas S Kuhn – Philosphy David R Lange Patricia McCoy – Law Robert Mehr Barry S. Mulholland…

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TO DO bonknote.com/dots-policyholder-runs/ [Documents] Concepts History 1980 – SOA – Product Innovation – Response to Consumer Needs in the 1980’s, Society of Actuaries – 14p Charles W. McMahon – Whenever you are working on something new and innovating, it is always a good idea to look back and see what the ancients called it. Language / Terms of…

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Connections The reader might assume that the subject of life insurance is neither very controversial nor interesting. Such a conclusion would be in great error. 1982 – Introduction to Life Insurance –  Mark Dorfman, Academic Textbook Interestingness requires the proper connections and interactions among diverse parts. The Hidden Factor: Why Thinking Differently Is Your Greatest Asset…

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SEC – Securities and Exchange Commission That tests the limits of the SEC staff’s gullibility, believe me it does. — W. Randolph Thompson, with the law firm of Jones & Blouchin Washington, will speak on some SEC issues 1993 – SOA – Variable Products — Product for the 1990s?, Society of Actuaries – 22p https://www.sec.gov/files/rules/proposed/2008/33-8933.pdf RIN 3235-AK16 INDEXED…

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Fairbanks v. Farmers New World Life 2xxx- LC – Fairbanks v. Farmers New World Life  —  [BonkNote] 2008 – LC – Fairbanks v. Farmers New World Life, California Superior Court scocal.stanford.edu/opinion/fairbanks-v-superior-ct-33061 2011 – LC – Fairbanks v. Farmers New World Life Ins. Co. 197 Cal. App. 4th 544, 128 Cal. Rptr. 3d … – Cal:…

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1987-2 Rules Governing the Advertising of Life Insurance and Life Insurance Products Coupled with Annuities founding meeting of the Society of Market Conduct Examiners Executive Committee NAIC Position Paper on Repeal or Modification of the McCarran- Ferguson Act (Attachment Three) – (p28) Recommendation of the Special Federal Issues Task Force (Attachment Four) – (p32) Synopsis…

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