Archive for August 2020
Rating Agencies
Rating Agencies AM Best Best’s Review “Insolvency Studies” Best’s Insolvency Study Duff & Phelps Fitch Moody’s Standard and Poors (S&P) Weiss Research 1990 1215 – NYT – Moody’s Cuts Debt Ratings of Five Leading Insurers, By Richard D. Hylton – [link] The five are Mutual Life Insurance of New York, Mutual Benefit Life Insurance, Home…
Read MoreGRET – Generally Recognized Expense Table
GENERALLY RECOGNIZED EXPENSE TABLE (GRET) 1998 – GENERALLY RECOGNIZED EXPENSE TABLE FOR 1998 ILLUSTRATIONS. SOCIETY OF ACTUARIES COMMITTEE ON LIFE INSURANCE RESEARCH. REPORT TO THE NAIC LIFE DISCLOSURE WORKING GROUP, Society of Actuaries – 8p 1996-2 Generally Recognized Expense Table 716 Adopted 695 2000-3 Society of Actuaries Committee on Life Insurance Research Report to the…
Read MoreSystemic Risk
Systemic Risk Systemic Risk – Index Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. 2003 – IMF – Insurance and issues in financial soundness. IMF working paper 03/138. Das U, Davies N, Podpiera R – 44p 2009 0305 – GOV (House) – Perspectives on Systemic Risk, Paul Kanjorski (D-PA) — [BonkNote] Terri Vaughan…
Read MoreUL – Premium
UL – Premium COMMON / PARADIGM Media Universal life insurance, like whole life insurance, is a type of permanent life insurance policy that accumulates tax-deferred cash value. The policy stays in effect for as long as you remain alive and pay the premiums. https://www.usnews.com/360-reviews/life-insurance/universal-life-insurance PROBLEM? Legal Case “John <Plaintiff – Policyowner> contacted Glasgow <Agent>, who had…
Read MorePolicy Overview – Examples
Policy Overview Ideas 1976 – AP – Implementation of Full Disclosure of Policy Value in the Life Insurance Contract Per 1000 Bernacchi – 17p Life Insurance Disclosure Model Regulation – January 1993 – Appendix D Policy Information for Application -Universal Life ACLI – IAA joint reportaugfinal 31-32 Policy Overview_Page_1 ACLI – IAA joint reportaugfinal 31-32…
Read More1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary – 10p
1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary – 10p 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Test Market Results – Focus Group – CIDWG – Consumer Issues Disclosure Working Group — [BonkNote] — 10p 1993 – NAIC – Policy Information for Applicant -…
Read MoreLOOK
LOOK My staff has conducted a major investigation of these issues. I must say today that I was shocked when I saw its findings. (p1) — Senator Howard Metzenbaum (D-OH) 1979 0524 – GOV (Senate) – Cost Disclosure in Life Insurance, Howard Metzenbaum (D-OH) — [BonkNote] Look-Blumenthal Deposition Look – Kablach Deposition Do you see…
Read MoreLook – Blumenthal Deposition
Look – Blumenthal Deposition 2009 – LC – Blumenthal v New York Life — [BonkNote] In my experience very smart people don’t really know what all the components mean. I feel like it does lead to confusion. So, I think … if you can refer to the eventual illustration and just show the cash value. — Teresa…
Read MoreQ: Is it Accurate to Call Universal Life a Whole Life Policy…..Maybe Not….
Q: Is it Accurate to Call Universal Life a Whole Life Policy? Maybe…Maybe Not…. Who refers to Universal Life as Whole? As long as you pay the premium Permanent insurance is a term used only by the industry – not by consumer educators. We would prefer – Life insurance comes in two basic types: Term…
Read MoreTexas
Texas Universal Life Universal life insurance is more flexible than whole life. You can change the amount of your premiums and death benefit. But any changes you make could affect how long your coverage lasts. If your premiums are lower than the cost of insurance, the difference is taken from the cash value. If the…
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