June 2022 – Page 2

Periodic Payment Plans 2007 03 – SEC – Report on Refunds, Sales Practices, and Revenues from Periodic Payment Plans – As Required by Section 4(c) of the Military Personnel Financial Services Protection Act – U.S. Securities and Exchange Commission, Securities and Exchange Commissioner – 48p …. variable annuities and variable life are regulated as periodic…

SOA – Congress James Pilgrim: My question is both to Walt and Fred. When you talk about universal life being a way to sell lower cost coverage by virtue of the policyhoIder’s paying the minimum premium to keep the policy in force, aren’t we going to find down the road, and particularly for companies whose…

American Amicable Date-? – Multi-State Regulatory Settlement Agreement – American Amicable, Pioneer American, Pioneer Security – 33p 2004 0712 – ThinkAdvisor – American-Amicable Reports Military Allotment Woes, by Staff Writer – [link] Military Textbook “Building Success Marketing System” “american amicable” 200x – LC – UNITED STATES OF AMERICA : ex rel. KEITH SANDERS, : Plaintiff,…

Press Media Media – Index Press Releases Financial regulators did not identify the problems occurring with sales to military members until they were brought to light by press reports for various reasons. (p11) 2005 11 – GAO – Financial Product Sales: Actions Needed to Better Protect Military Members, Government Accountability Office – 88p Linda M.…

Sealed Court Documents 2019 1216 – Letter – Reporters Committee for thed Freedom of the Press (rcfp.org) to Chief Justice John G. Roberts, Jr., Supreme Court of the United States Re: Proposal for Supreme Court rule addressing sealed court records – 66p American International Group, Inc. 2008 Securities Litigation – Depositions – Sealed “substantial government…

Problem – Insurance Regulators II. REGULATORS’ PROBLEMS The development of new products and the entry into new lines of activities by financial organizations have presented regulators with serious new problems. These problems have shown up in the area of protections afforded buyers of these products and most especially in the area of regulating the operations…

Problem – Consumers As William Douglas, the third commissioner in the SEC’s then-short life, said in 1937 of new disclosure rules: “We can demand full disclosure of the facts, we can insist upon a market free of manipulation, we can fight fraud, but we cannot provide sound business judgment, nor can we save a fool…

Problem – Company 1949 – SOA – Some Actuarial Observations on Agency Management Problems, by Charles F. B. Richardson, Society of Actuaries – 46p 1977 – SOA – Effective Product Management, Society of Actuaries – 12p Mr. Montgomery asked how companies would control brokers who were selling insurance. 1994-3, NAIC Proceedings Mr. Wright said the Society…

Narrative Summary The narrative summary consists of: (1) a brief description of the policy being illustrated and the statement that the policy being illustrated is a life insurance policy; (2) a brief description of the premium outlay or contract premium as applicable for that policy; (3) a guaranteed maturity premium to keep the policy in…

ULMR – Universal Life Insurance Model Regulation – MDL-585 – NAIC This model began its development when an interested party* gave a brief description of the background and concern of the new so-called “Universal Life” products to the NAIC Life Insurance (A) Committee. — [Bonk: interested party* = Jim Jackson of Transamerica / Occidental…