1975-1, NAIC Proceedings

1975-1, NAIC Proceedings

• (4) At what stage do projections become misrepresentations?  (Report – p750)
• The classic case of misuse, which called the problem to our attention, had to do with a disclosure form given a policyholder or applicant and sent to us in what appeared to be horror by an agent of another company.
  • On this form the insured was a girl, age five. Deposits were illustrated as accumulated at 9% for sixty years.
  • The company does not earn 9% and has no investments with sixty-year maturities.

—  W. Keith Sloan, Life Actuary, Arkansas Insurance Department

1975-1, NAIC Proceedings