Archive for July 2021
Examples
Examples Coverage Period – Examples Illustrations – Examples Premium Benefit Pattern – Examples
Read MoreValuation and Nonforfeiture
Valuation and Non-forfeiture Nonforfeiture Second Standard Nonforfeiture Law – NAIC Standard Non-Forfeiture Law – SNFL Valuation Standard Valuation Law – SVL Valuation Actuary 1987 – SOA – Valuation Actuary Handbook – VAH 1987 – SOA – Valuation Actuary Handbook – VAH871 – Chapter 1 – Insurance Company Statutory Valuation, Society of Actuaries – 34p Valuation…
Read MoreSheryl Moore
Sheryl Moore Mooremarketintelligence.com/ “You Deserve Moore – The Most Connected Person in the Insurance Biz” winkintel.com/insurance-basics/life-insurance/ This permanent type of insurance provides lifetime coverage if performance warrants, as well as minimum guaranteed cash values and death benefits (like traditional Universal Life). A consumer cannot lose their principal due to fluctuations in the market with this…
Read MoreBait and Switch
Bait and Switch Policies that credit higher interest rates in early years and lower rates in later years came in for criticism. Some characterized such policies as “bait and switch” and thought they should be restricted by regulation or by actuarial standards of practice. (p4) 1993 07 – SOA – ASB Mulls New Standards, The Actuarial Update, Gary…
Read MoreULMR – Universal Life Insurance Model Regulation – 585 – NAIC – Snippets
ULMR – Universal Life Model Regulation – MDL-585 – NAIC – Snippets PAGE 1 Drafting Note: It is the position of the drafters of this regulation that universal life insurance is simply another competing type of life insurance which should be treated, to the extent possible, in the same regulatory manner as other life insurance…
Read MoreOverfund
Overfund (p5-7) – Section 2 – Introduction and Background The ultimate goal of this report is to raise awareness regarding the questionable sale of complex insurance products (overfunded UL insurance in particular) in specific circumstances, and to commence a broader discussion regarding specific actions that can be taken to increase adherence to FTC/ICP 19 and to…
Read MoreJesse M. Schwartz
Jesse M. Schwartz Jesse M. SCHWARTZ: Why are people so reluctant to call Total Life permanent insurance? [Bonk: Total Life = Universal Life Insurance] Myron H. MARGOLIN: Universal Life type products are, I suppose, permanent. It is a semantic question whether they are permanent life or not, but clearly they are not the traditional cash…
Read MoreBarney Frank
Barney Frank 1981-2013 – US House (D-MA) Dodd-Frank Act “barney frank” “optional federal charter” “2008” “Press Conference” “march 5” 2009 1020? – GOV (House) – “Ideological differences” / most changes with insurance section GOV – NAIC 2007 0613 – GOV (House) – Improving Federal Consumer Protection in Financial Services. (CSPAN) Financial Services Consumer Protection, Barney…
Read More1980s – SOA to ACLI
1980s – SOA – ACLI 1981 – SOA – Subcommittee on Cost Comparisons – Universal Life, Society of Actuaries – 16p
Read More1980s -ACLI – NAIC Proceedings
1980s – ACLI – NAIC Proceedings NAIC Proceedings – ACLI – Universal Life LIFE , ACCIDENT AND HEALTH (C) COMMITTEE; Life Insurance (C3) Subcommittee, 1980-1, NAIC Proc. The American Council of Life Insurance also has a special Task Force on Valuation and Nonforfeiture Regulation for New Products, which is studying minimum reserves and nonforfeiture value…
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