Premiums, Costs, Values and Benefits – Congress

Premiums, Costs, Values and Benefits – Congress

• I think any way that we can make illustrations more understandable to the public is certainly going to help us.
  • We’ve seen the problems that have occurred when Senator Howard Metzenbaum (D-OH) was given an illustration with a vanishing premium, and he had absolutely no idea that he had bought a policy that was not paid up in four years.
  • It caused many problems for the industry; it caused many problems because the press got involved, and the press doesn’t understand the products as well as it thinks it does.

—  Linda M. Lankowski

1995 – SOA – Practical Illustrations and Nonforfeiture Values, Society of Actuaries – 14p

(page 1)

1973 0220 – GOV (Senate) – The Life Insurance Industry, Philip Hart (D-MI) – Part 1 of 4   —  [BonkNote]  —  [PDF-815p-GooglePlay]