Archive for March 2021
ACLI – Benefits
ACLI – Benefits ….provide illustrations based on different assumptions. This would serve to demonstrate to the consumer the effect on future benefits of changes in assumptions. (p183) 1988-2, NAIC Proceedings – ACLI – A Statement on Behalf of the American Council of Life Insurance to the NAIC Market Conduct Surveillance (EX3) Task Force – 3p …
Read MorePromises
Promises At the 1986 Annual Meeting of the American Council of Life Insurance ACLI Chairman John Pearson stated: Our products must do what we say they do. Our companies must fulfill their promises. All the words in the world – the best government relations, the best public relations-will not be enough without performance. (p2) 1987 01…
Read More1970 – Joint Special Committee of Life Insurance Costs
1970 – Joint Special Committee of Life Insurance Costs 1970 – Report of the Joint Special Committee on Life Insurance Costs – (p720-748) – 29p Report to American Life Convention, Institute of Life Insurance, Life Insurance Association of America 1973 — GOV (Senate) – The Life Insurance Industry – 4 parts – Senator Hart – Part…
Read More1973-1, NAIC Proceedings
1973-1 II. Proposed Changes in the Standard Valuation Law Draft of November 20, 1972 1973-1, NAIC PROCEEDINGS lt may be of interest to convey some of the highlights, — excerpts of these communications follow: We could accept the judgment of many, but not all, financial experts that we are now in a “new era” of…
Read MoreAgent – Consumer Interaction
Agents – Consumer Interaction Sad to say there are large numbers of producers – including big earners – who are screwing the insurance buying public through their own ignorance. (p161) — Arthur Shievitz, Letter 1991 0613 – GOV (House) – Insurance Competitive Competitive Pricing Act of 1991 – [PDF-237p-GooglePlay, Larry Gorski of the Illinois department…
Read MoreAgent – Recruiting
Agent – Recruiting It could be said that there are two basic ways to acquire a sales force- one is to build your own and the other is to buy trained manpower. — C. David Silletto 1967 – SOA – New Company Problems, Society of Actuaries – 38p N. T. FUHLRODT, speaking on section A,…
Read MoreAgent – Training
Agent – Training Agent Training – Walker v LSW Focus on professional sales training. Insurance carriers have not focused on training for years, Weber said, and there is a whole generation that does not know how to sell professionally. [Bonk: Weber = Richard Weber] 2012 1116 – ThinkAdvisor – 11 ways to sell IUL more ethically, By…
Read MoreAgent – Knowledge
Agent – Knowledge I do not think agents understand the product. — Robert D. Hogue, Senior Vice President and Chief Individual Actuary at Maccabees Mutual 1982 – SOA – The Universal Life Update (rsa82v8n22), Society of Actuaries – 16p For a company such as Prudential with thousands of agents, most of whom are not very sophisticated, getting the…
Read MoreTom Leonardi
Tom Leonardi 2011-2014 – Connecticut Insurance Commissioner 2013 1211 – Letter – Tom Leonardi to NAIC etc, re: Corporate Governance – 3p “We have met the enemy and he is us!” This famous line from the comic strip Pogo aptly describes the current state of governance at the National Association of Insurance Commissioners. 2013 1216…
Read MoreMaurice LeVita
Maurice LeVita 1975 – SOA – Ordinary–New Products, Society of Actuaries – 18p Letters to My Family – Maurice LeVita https://issuu.com/fredredwoods/docs/completed_book__4-05-10 1986 – Obituary – Washington Post – [link] 1986 – SOA – Obituary – https://www.soa.org/globalassets/assets/library/research/transactions-of-society-of-actuaries/1980-89/1986/january/tsa86v3815.pdf 1936 – Book – An arithmetic of life insurance – Hathitrust An actuarial approach suited to providing any desired pattern of death benefits…
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