Premiums, Costs, Values and Benefits – Consumer Testing

Premiums, Costs, Values and Benefits – Consumer Testing

• 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary, Consumer Issues Disclosure Working Group – NAIC  —   [BonkNote]  —  10p

• With that in mind, we started by making a list of basic information about life insurance that first-time buyers probably don’t know.
  • We didn’t find any scholarly research on the topic but did find references to a number of industry sponsored surveys.

2017 0719 – LIBGWG – Consumer Reps Brenda Cude and Karroll Kitt

• Commissioner Ommen asked whether Mr. Birnbaum is aware of any consumer testing of illustrations or research that has already been done that looks at consumer understanding in this area.
• Birny Birnbaum [CEJ] said ….. he is not aware of any consumer testing in this area.

2020 1110 – NAIC – LIAC – Life Insurance and Annuities (A) Committee Virtual Meeting