Problem – As Long as You Pay the Premium As long as you pay the premium Permanent (cash value) life insurance pays the beneficiary whenever the insured dies, as long as premiums have been paid. (p38) 2016 11 – FIO (Federal Insurance Office) – Report on Protection of Insurance Consumers and Access to Insurance -…

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Bonk – 2022 06 2015 0329 – NAIC – LIAC, Life Insurance and Annuities (A) Committee Appointed a New Working Group to Revise the Life Insurance Buyer’s Guide. Ms. Matthews said the Committee has a 2015 charge to review and consider revisions to the Life Insurance Buyer’s Guide (Buyer’s Guide) in conjunction with the Life…

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Terms of Art (p5) – They allege that “cost of insurance” is an industry term of art… 2013 0102 – LC – Freeman v Pacific Life – 09-55513, D.C. No. 8:08-cv-01134-DOC-AN, OPINION – 15p There is a general rule of statutory construction that terms of art used in the statute that are particular to a specific…

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CDS – Credit Default Swaps AIG – CDS – Credit Default Swaps – AIGFP Known in the trade as credit default swaps, the derivative contracts serve essentially as insurance against default on corporate loans and bonds. 2001 0402 – InvestmentNews – Default swaps could imperil insurers: A new derivative that Wall Street investment houses are…

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Securities Lending – NAIC re: Bond Lending / [Securities Lending] There was also some discussion of the lack of liquidity associated with this program and it was felt that that is certainly consideration which must be taken into effect by companies contemplating such transactions. 1986-1, NAIC Proceedings – Minutes Working Group on Emerging Issues Chicago Illinois -…

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NAIC – Groups – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# A ACLI – TRG – Technical Resource Goup, Industry – Illustrations – NAIC Advertising of Insurance Committee – (H) – NAIC AIG Special Task Force – (EX) – NAIC Annuity Suitability Working Group – (A) – NAIC AUWG – Accelerated Underwriting Working Group – (A) – NAIC Back to…

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Guaranty Fund Issues Working Group – (E) – NAIC (p515) – The working group identified several issues relevant to the charges, including: Does the current structure for handling life insurer insolvencies encourage a policyholder “run”? 1995-2, NAIC Proceedings – Guaranty Fund Issues Working Group Receivership and Insolvency (E) Task Force – NAIC – content.naic.org/cmte_e_receivership.htm Guaranty…

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Financial Services Modernization (G) Task Force – NAIC 2000-1, NAIC Proceedings (p44) – Financial Services Modernization (G) Task Force 1. Heard a report on regulatory cooperation with federal agencies. Discussions with the Office of the Comptroller of the Currency (OCC) have focused on the OCC’s rulemaking process, draft rules on financial privacy and financial subsidiaries,…

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Demand Deposit Demand deposits are funds on deposit with banks; they are subject to immediate withdrawal and are classified as cash. (p434) —   – Life and Health Actuarial (EX5) Task Force –  1988-2, NAIC Proceedings ATTTACHMENT TWO-B Draft 4/11/88 RE: Proposed Regulations Concerning the Valuation of Universal Life Insurance Plans The regulation provides for the…

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