How the Policy Works – Walker vs. LSW The fact that we charge people fees that we have disclosed and that fees reduce the value of your policy, and if your policy keeps reducing in value, it will lapse, is not a fraud. That’s common sense. That’s how life insurance works.  (p171)  —  Closing Argument…

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One Policy Fee – Walker v LSW A I mean, it’s five bucks a month, you know. No, I don’t recall it. Q So since it’s only five bucks a month, why would the company be touting one policy fee? (p76-78) 2013 1211 – DOC 735-`2 : Deposition of Michael Tivilini- Walker v LSW –…

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Starr International Company vs United States – 11-0779 Starr International Company, Inc. v. The United States – Case 1:11-cv-00779-TCW 1:2011cv00779 U.S. Court of Federal Claims 11/21/2011 06/17/2015 2015 0215 – NYT – Newly Released Documents Reveals Advice to Fed in A.I.G. Bailout, By Aaron M. Kessler – [link-Paywall Free] In an unusual ruling at the end…

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Sarah Dahlgren She explained that most of the money drawn from the facility went to securities lending counterparties.  Dixie asked how much money was drawn from the facility between September 16 and November 10 when the Maiden Lane transactions were announced. Ms. Dahlgren said “north of $60 billion, but I’d have to verify that.” (p2)…

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MDL-1061 – LC – Prudential Insurance Co. of America Sales Practices Litigation MDL-1061 – LC – Prudential Insurance Co. of America Sales Practices Litigation  —  [BonkNote] Multi-State Life Insurance Task Force and Multi-State Market Conduct Examination of The Prudential Insurance Company of America – p In re: THE PRUDENTIAL INSURANCE COMPANY OF AMERICA SALES PRACTICES…

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Walker v LSW – Prudential / MetLife Prudential – Vanishing Premium MetLife – Retirement / Savings Plan Walker v LSW Patrick Kelly MetLife In its June 7, 1994 Consent Order #94-102, the NJDBI cited N.J.S.A. 17B:30-3 and N.J.A.C. 11:2-23.4 and subsequently fined MetLife $965,555 for MetLife’s practice of misrepresenting life insurance to be retirement or savings…

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Supreme Court 1994 – NationsBank v VALIC – [link] QUESTION PRESENTED – Whether federal law permits national banks, whereever located, to act as agents in the sale of annuities. supremecourt.gov/opinions/boundvolumes/525bv.pdf (p1129) – No. 98–2. Metropolitan Life Insurance Co. v. Sabo.- C. A. 3d Cir. Motion of American Council of Life Insurance for leave to file…

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Modco – Modified Coinsurance What happened under TEFRA? Several things:  We lost MODCO 820 forever. We had a deceptively modest reduction in 818(c)2. A lot of the teeth were taken out of reinsurance as a tax planning tool. Universal Life was given legitimacy through 101(f). In terms of Anderson’s Taxation Horseman, it is now clearly…

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Conseco Stephen Hilbert Tomisue Hilbert Green Tree Mobile Homes 2014 – AP – Conseco: Market Assumptions and Risk, By Russell Walker [Legal Cases]  2007 0409 – InsuranceJournal – Iowa Insurance Division Head Will Discuss Settlement with Insurer = [R-Factor] – [link] Johnston & Johnston v Conseco Jake Garn – Senator, Astronaut IN RE CONSECO LIFE…

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