Illustrations – Problems We’ve all heard a lot about the junk bond crisis. Is the next crisis going to be junk illustrations? —  Judy Faucett 1991 – SOA – Illustrations, Society of Actuaries – 20p The number one perceived problem is that buyers simply do not understand the nonguaranteed nature of life insurance illustrations. Also, it is…

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Persistency 1981 – SOA – Patterns in Persistency, Society of Actuaries – 18p 1995 12 – SOA – 1994-1995 Year in Review, The Actuary, Society of Actuaries – 6p SOA Research and the Life Insurance Marketing and Research Association (LIMRA) completed a report on universal life persistency results that have never before been published on an…

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P1P2 P1P2 – Grid P1P2 – Actuarial P1P2 – Legal Case – Maloof v John Hancock P1P2 – NAIC P1P2 – NAIC – Life Insurance Buyer’s Guide Start – Policy Cash Flow Mechanics P1->P2->SIV P1->SIV->P2 Roger Strauss (Iowa) said a fundamental issue was that the consumer realize that the premium is being paid from someplace. …

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Realistic Assumptions Summing up, it seems to me that reasonable assumptions for annual premium policies must recognize the long-term commitments in question, and thus should consist of a realistic current mortality table with projection into future years, together with an interest rate not higher than 3% and preferably somewhat lower. —  Wilmer A. Jenkins 1961…

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Edmund Berkeley One of the most influential and prominent advocates of the new computing machines came from the world of life insurance rather than from science or engineering.  Edmund Callis Berkeley…..  (p59) 2011 – AP – Post-Industrial Engineering: Computer Science and the Organization of White-Collar Work, 1945-1975. by Mamo, Andrew Benedict – 243p Edmund C.…

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Edward Rieder also seen as Reider The use of a computer for this purpose was foreshadowed as early as 1947 by Edward Reider in commenting on a paper on electronic machinery by Edmund Berkeley.  —  Walter L. Chapin 1976 – Adjustable Life Products, Society of Actuaries 1966 – SOA Obituary Edward A. Rieder (TASA XLVIII, 1947, p. 283)…

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DIY – Do It Yourself 28 Oct 1981, Wed Journal and Courier (Lafayette, Indiana) Newspapers.com In fact, it is accurate to describe Universal Life as a generalized version of the actuarial formulas underlying traditional life insurance products. In other words, it is possible to produce any traditional plan of insurance from the generalized formulas underlying…

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Leslie Scism wsj.com/news/author/leslie-scism Philadelphia Daily News Dow Jones  AIG IUL – Indexed Universal Life PRT – Pension Risk Transfers Universal Life Vanishing Premium 1995 0103 – WSJ – Fine Print Victims: Some Agents ‘Churn’ Life Insurance Policies, Hurt Their Customers, Prudential, by Leslie Scism – <WishList> 1997 0807 – WSJ – Internal Reports Depict Forgery,…

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Yardstick Ernest J. MOORHEAD. I guess I would , I hope you’ll not think this is with tongue in cheek, express my happiness at Mr. Matz’s remarks about the yardsticks. When I went before the ACLI committee, of which he was then chairman the adjective applied to the yardstick idea was ludicrous. I’m pleased that…

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Financial Condition Committee – (E) – NAIC content.naic.org/cmte_e.htm Risk Retention Group Task Force – (E) – NAIC 2003-3, NAIC Proc. – Financial Stability Task Force   2003 0610 – Report of the National Association of Insurance Commissioners (NAIC) and the Federal Reserve System – Joint Subgroup on Financial Issues – 51p (p536) – The Subgroup also…

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