Archive for August 2020
Modeling
Modeling 1994 – Asset Modling Concepts – Society of Actuaries – 38p Universal Life Modeling Example Funding Levels Universal life plans offer the policyholder great flexibility in their use of the plan — from a term plan to an investment vehicle. The funding level affects: 1. Universal life commissioners reserve valuation method reserves — In…
Read More1996-2, NAIC Proceedings
1996-2 LOCATE 1996-2 NAIC Proc. 646 -No Full Pay Required -Based on what Consumer Wants Q: 7.5 However, I believe that the regulation states that the premiums shown in the basic illustration must be those anticipated by the policyholder. How does this reconcile with the concept of having basic illustrations be full pay only? …
Read MoreSystems Science
Systems Science Complexity Science–an introduction and invitation for actuaries – Website – Society of Actuaries
Read MoreMark Dorfman
Mark Dorfman 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 – Book – Introduction to Life Insurance, by Mark Dorfman Life Insurance Costs and Comparisons, Dorfman and Adelson – 40p 1971 – AP – The Product Performance of…
Read MoreGame Theory
Game Theory 1968 – PRICES AND PROFITS, JOHN M. BRAGG, Society of Actuaries 1980 – APPLICATIONS OF GAME THEORY TO THE INSURANCE BUSINESS, Society of Actuaries – 4p 1991 – AP – Cooperative Game Theory and its Insurance Applications, Jean Lemaire – 162p <Bonk: Have not read>
Read MoreSingle Premium Life Insurance
Single Premium Life Insurance SPWL – Single Premium Whole Life 1988 0325 – GOV (Senate) – Tax Treatment of Single-Premium Life Insurance, (CSPAN) Single Premium Life Insurance, Max Baucus, (D-MT) — [BonkNote] LIRP – Life Insurance Retirement Plan 1999 – LC – Greenberg v. Life Ins. Co. of Virginia – [GoogleScholar] re: Single Premium Life Insurance…
Read MoreConsumerism
Consumerism I am not convinced that the consumer advocates,–David Swankin excepted– really know or speak for what the average consumer wants. I fear that in the dialogue between regulators, business and consumerists, what the general public really wants may be overlooked. — William M. White, Connecticut General – Director of Government Regulations 1980 – SOA -…
Read More1996-1, NAIC Proceedings
1996-1 Data Access Dr. Yager said he attended some of the NAIC computer sessions in Detroit and he found the NAIC databases to be fascinating but that he could not afford to pay the user fees required to access the databases, particularly the Common User Interface. Mr. Adkins said he would like access to the…
Read More1996-3, NAIC Proceedings
1996-3 The group first considered a suggestion from Chris Kite (FIPSCO) for a new type of index that would allow consumers to compare the assumptions in the illustration. The group reviewed comments in favor of and opposed to the method described by Mr. Kite. Mr. Kite said his index has the advantage of prompting the…
Read MoreHistorical Performance
Historical Performance NAIC – IULISG – IUL Illustration Subgroup Some have suggested that historical experience should replace current scale as the basis for describing how the not guaranteed elements of the policy can operate. Substitution of historical performance for current scale would not solve many of the problems related to sales illustrations. Since it is…
Read More