1990s - NAIC - LIAC - Life Insurance (A) Committee - NAIC Proceedings Index
1990-1A
Product Development Task Force
☐Policy Information Form for Applicants on Universal Life Policies (Attachment One) ….453
☐Consumer Disclosure Issues Working Group November 17, 1989 Report (Attachment Two) ………….463
☐September 11, 1989 Report (Attachment Three) ……….464
☐LIMRAs Universal Life Disclosure Form Focus Group Summary
(Attachment Three-A) …….….464
☐Consumer Disclosure Issues Working Group September 11, 1989 Report (Attachment Three-B) ….473
1990-2
☐Bulletin on Illustrated Interest Projections Exposure Draft (Attachment Three-A) ......................... 578
1991-1A
Life Insurance Disclosure Model Regulation Amended Exposure Draft
(Attachment Three) ...................................................................................... 549
Consumer Disclosure Financial Review Policy Forms (Attachment Four) ... 557
Life Marketing Practices to Senior Citizens Working Group
December 1, 1990 Report (Attachment Five) .............................................. 558
Life Marketing Practices to Senior Citizens Working Group
November 21, 1990 Report (Attachment Six) .............................................. 559
Resolution Regarding the Rules Governing the Advertising of Life
Insurance (Attachment Seven) ..................................................................... 560
Projected Interest Earnings Working Group Report (Attachment Eight) .....561
Bulletin on Illustrated Interest Projections Amended Exposure
Draft (Attachment Eight-A) ..................................................................... 561
Life Insurance Disclosure Model Regulation Draft
(Attachment Nine-A3) ................................................................ .......... 570
1991-2A
CONTENTS
☐Standard Policy Forms Working Group Report (Attachment Four) .............. 701
April 15, 1991 Report (Attachment Five) ........................................................ 701
☐Optional Form of the Life Insurance Disclosure Model
Regulation (Attachment Five-A) .............................................................. 703
Agenda
- Report of Product Development Task Force
- Report of Life & Health Actuarial (Technical) Task Force
1992-1B
CONTENTS
Senior Marketing Working Group December 9, 1991 Minutes
(Attachment Two) .......................................................................................... 868
Life Insurance Disclosure Model Regulation and Financial Review
of This Policy Disclosure Form (Attachment Two-A) .............................. 869
October 31, 1991 Minutes (Attachment Two-Bl .......................................... 879
September 17, 1991 Minutes (Attachment Two-C) ..................................... 881
Life Insurance Disclosure Model Regulation (Attachment Two-Cl) ..... 882
August 21, 1991 Minutes (Attachment Two-C2J ..................................... 89
AGENDA
- Report of Senior Marketing Working Group
- Report of Life and Health Actuarial (Technical) Task Force
1992-2B
Drafting Group for Shopper's Guide to Life Insurance for Older Adults
June 8, 1992 Minutes (Attachment One) ........................................................ 666
- Report of Life and Health (Technical) Actuarial Task Force
1993-1
CONTENTS
March 9, 1993, Minutes ................ ........... ....... ... .................... .. .. ... .......... .... .. ..... ... ... ......... 249
Life Disclosure Working Group March 8, 1993, Minutes (Attachment One) .... .... 251
Summary of NAIC Activity, Life Insurance Disclosure/Illustrations
☐(Attachment One-A) .... ................ ... ... ...... .............. ....... .... ............. ........ ... 252
State Adoption of Life Insurance Disclosure Provisions Found in NAIC
Model Laws (Attachment One-Bl ........... .. ... ........... ........ ...................... ... 253
Statement of National Association of Life Underwriters
☐(Attachment One-Cl ............ ........ ... ........ .......... ......... ................... ...... ...... 257
Statement of the American Academy of Actuaries Task Force on
☐Life Insurance Illustrations (Attachment One-D) ....... .. ......... ...... .......... 263
☐Report of the Technical Resources Group (Attachment One-E) .. ..... ............. 263
1993-1B
CONTENTS
Life Disclosure Working Group December 6, 1992 Minutes (Attachment Two) ... 788
Discussion Draft of Proposed California Ledger Illustration Law
☐(Attachment Two-A) ................................. ..... ... ..... .......... ............. ......... .. 789
Preliminary Report of the American Academy of Actuaries Task Force ·
on Life Illustrations (Attachment Two-B) ......... .................................... . 792
Life Disclosure Working Group· November 8, 1992 Minutes
☐(Attachment Two-C) ...... ......... ........ ... ........ ... ...... .... ................. ............... . 794
November 24, 1992 Conference Call Minutes (Attachment Three) ... ... .. ... ..... ... .... 795
☐Guide to Buying Life Insurance After Age 60 (Attachment Three-A) .... .... .. 796
Life Insurance Disclosure Model Regulation Amendment
(Attachment Three-,-B) .. .... ... . .......... ............. ..... ... ................ ............. .... ... 800 .
September 21, 1992 Minutes (Attachment Four) ....... .......... ........ ...... .................... 800
Buyer's Guide to Life Insurance for Seniors Drafting Group
September 20, 1992 Minutes (Attachment F.our-B) .... ... .... . .. .... .. ... ... .. ... 803
☐Letter From U .S. Senator Howard Metzenbaum Regarding
Consumer Disclosure (Attachment Four-D) .... ....... ...... ............. ........... .. 810
1993-2
CONTENTS
Life Disclosure Working Group June 21, 1993, Minutes (Attachment Six) ........ 730
Recommendation from Industry Committee on Life Insurance
Disclosure (Attachment Six-A) .............................................................. 732
California Discussion Draft of Ledger Illustrations Rule
(Attachment Six-B) ................................................................................ 734
1993-3
Life Disclosure Working Group, Sept. 20, 1993, Minutes (Attachment Six) ....... 440
Life Disclosure Working Group, Aug. 19, 1993, Minutes
(Attachment Six-A) ................................................................................ 442
☐Memo from Harold Phillips on Definitions (Attachment Six-Al) ........ 442
☐NCOIL Memorandum on Life Insurance Disclosure
(Attachment Six-A2) ...................................................................... 443
☐White Paper on Life Insurance illustrations (Attachment Six-A3) .....443
Life Disclosure Working Group, July 22, 1993, Minutes
(Attachment Six-B) ................................................................................ 446
1993-4
Life Disclosure Working Group December 4, 1993 Minutes
(Attachment Three) .............. ...... ... .................................. .............................. 650
Life Insurance Illustrations Model Act Exposure Draft
(Attachment Three-A) ....................... , ....... , ......•.................................... 653
Life Disclosure Working Group November 15-16, 1993, Minutes,
(Attachment Three-B) ................................................................... ....
1994-1
Life Disclosure Working Group March 5 and 7, 1994, Minutes
(Attachment Four) ......................................................................................... 364
Illustrations Recommended by Technical Resource Advisors
☐(Attachment Four-A) ............................................................................. 367
Illustrations Recommended by FIPSCO (Chris Kite)
☐(Attachment Four-B) ............................................................................. 388
Statement of National Association of Life Underwriters on Life
☐Insurance Illustrations (Attachment Four-C) ...................................... 413
☐Key Features Document from Consumers Union (Attachment Four-D) ..... 424
Life Disclosure Working Group Feb. 23, 1994, Minutes
(Attachment Four-E) ............................................................................. 431
1994-2
Life Disclosure Working Group June 11 and 13, 1994, Minutes
(Attachment One) ......................................................................................... 552
☐Statement from Commissioner J. Robert Hunter on Illustrations
Of Future Values (Attachment One-A) ................................................. 555
Life Insurance Illustrations Model Act Draft, (Attachment One-B) ............. 556
Rules Governing the Use of Illustrations in
Connection with the Sale of Life Insurance Draft
☐(Attachment One-C) .............................................................................. 557
Life Disclosure Working Group June 3, 1994, Minutes
(Attachment One-D) .............................................................................. 563
Life Disclosure Working Group May 1·3, 1994, Minutes
(Attachment One-E) .............................................................................. 564
Memo from Commissioner David Lyons Clarifying the Life
Insurance Committee's Position and Intentions
☐(Attachment One-El) .................................................................... 568
1994-3
Life Disclosure Working Group Sept. 17, 1994, Minutes (Attachment Four) ..... 520
Life Disclosure Standards Draft dated Sept. 17, 1994
(Attachment Four-A) ............................................................................. 522
Technical Resource Committee's Draft Suggestions Concerning the Life
☐Insurance illustrations Model Regulation (Attachment Four-B) ........ 524
☐Sample Policy illustrations (Attachment Four-C) ....................................... 54 7
Life Disclosure Working Group Aug. 21-23, 1994, Minutes
(Attachment Four-D) ............................................................................. 564
Life Insurance Illustrations Model Act Draft
(Attachment Four-D1) ................................................................... 568
Life Insurance Illustrations Model Regulation Draft
(Attachment Four-D2) ................................................................... 569
Life Disclosure Working Group July 14, 1994, Minutes
(Attachment Four-E) ............................................................................. 575
1994-4
Life Disclosure Working Group Dec. 3 1994, Minutes (Attachment Three) ....... 657
Illustrations Used in Connection with the Sale of Life Insurance Model
Regulation Draft (Attachment Three-A) .............................................. 659
Suggestions for Amendments to Model Regulation
☐(Attachment Three-B) ........................................................................... 664
Memorandum from Carolyn Johnson on Items to Discuss
☐(Attachment Three-C) ........................................................................... 665
Life Disclosure Working Group Nov. 22, 1994, Minutes
(Attachment Three-D) ........................................................................... 666
Life Disclosure Working Group Oct. 26, 1994, Minutes
(Attachment Three-E) ........................................................................... 667
Products to be Exempted from Illustration Requirements
(Attachment Three-El) ................................................................. 671
☐Life Disclosure Standards (Attachment Three-E2) .............................. 671
Life Disclosure Working Group Oct. 5 and Oct. 12, 1994, Minutes
(Attachment Three-E3) ................................................................. 673
1995-1
Life Disclosure Working Group March 13, 1995, Minutes
(Attachment Two) .......................................................................................... 479
Life Insurance Sales Illustrations Model Regulation Draft
(Attachment Two-A) ............................................................................... 482
Life Disclosure Working Group Feb. 9-10, 1995, Minutes
(Attachment Two-B) ............................................................................... 490
Life Disclosure Working Group Jan. 5-6, 1995, Minutes
(Attachment Two-C) ............................................................................... 495
1995-2
Life Disclosure Working Group Report (Attachment Three) ................................ 536
Life Insurance Sales Illustrations Model Regulation Draft
(Attachment Three-A) ............................................................................ 540
1995-3
Life Disclosure Working Group Report (Attachment One) ................................... 676
Life Insurance Illustrations Model Regulation (Attachment One-A) ........... 679
Memo Regarding Concerns with Current Draft Proposal Life Insurance
☐Illustrations Model Regulation (Attachment One-B) ............................ 688
1995-4
Life Disclosure Working Group Dec. 2, 1995, Minutes (Attachment Three) ....... 773
Life Disclosure Working Group Nov. 8, 1995, Minutes
(Attachment Six-A) ....................................................................... ...... ... 779
Life Disclosure Illustrations Model Regulation
(Attachment Six-Al) ................................................. ............. ......... 781
1996-1
Life Insurance Committee March 26, 1996, Minutes ................................................... 591
Life Disclosure Working Group March 25, 1996, Minutes (Attachment One) ..... 593
Life Disclosure Working Group Report on Review of NAIC Models
(Attachment One-A) ..................................................................... .......... 595
Letter Regarding Life Insurance Illustrations Model Regulation
☐from Commissioner Robert E. Wilcox (Attachment One-Al) ........ 597
Life Insurance Buyer's Guide March 15, 1996, Draft
(Attachment One-C) ............................................................................... 607
1996-2
Life Insurance (A} Committee June 5, 1996, Minutes ................................................. 646
Life Disclosure Working Group June 4, 1996, Minutes (Attachment Five) ...... .. 693
Report of the Buyer's Guide Subgroup (Attachment Five-A). ............ .......... 695
☐Draft of Life Insurance Buyer's Guide (Attachment Five-A1) ............. 696
Variable Life Illustrations Subgroup June 2, 1996, Minutes
(Attachment Five-B) ................................. ................ ................... .......... 703
Replacement Issues Subgroup June 3, 1996, Minutes
(Attachment Five-CJ ............................... ............. ................ .................. 704
Work Plan for Study of Life Insurance Practices
☐(Attachment Five-CI) .... ...................... ................ ........ ........... ....... 705
☐Possible Survey Topics (Attachment Five-C2) ..... ...... ................... .. ..... 706
Questions on Life Insurance Illustrations Model Regulation
☐(Attachment Five-F) ... ...................... ................ ........... .......................... 720
1996-3 v2
Life Disclosure Working Group Sept. 28, 1996, Minutes (Attachment Three) ... 916
Report of the Replacement Issues Subgroup (Attachment Three-A) ........... 919
Draft of New Business Practices Company Questionnaire
(Attachment Three-Al) ..... ............................................................. 921
Report of Interim Activity of Life Disclosure Working Group
(Attachment Three-B) ........................................................................... 926
Report of Cost Indices Subgroup of the Life Disclosure Working Group
(Attachment Three-B1) .................................................................. 931
Draft of Life Insurance Buyer's Guide
☐(Attachment Three-B1a) ........................................................ 931
☐Questions on Life Insurance Illustrations Model Regulation As of
July 24, 1996 (Attachment Three-B2) ........................................... 936
☐Discussion Draft of Questions on Life Insurance Illustrations Model
Regulation Dated 8/28/96 {Attachment Three-B3) ....................... 945
1996-4 v2
Life Disclosure Working Group Nov. 15 and Dec. 16, 1996, Minutes
(Attachment One) ........................................................................................ 1009
Questions on Life Insurance Illustrations Model Regulation as of
Dec. 17, 1996 (Attachment One-A) ...................................................... 1012
Report of the Replacement Issues Subgroup (Attachment One-B) ............. 1025
Draft of New Business Practices Company Questionnaire
(Attachment One-Bl) ................................................................... 1027
1997-1
Life Disclosure Working Group June 7 and 10, 1997, Minutes
(Attachment Three) ............................................................................. 624
Memorandum from GRET Project Oversight Group to NAIC Life Disclosure
Working Group regarding Draft Report on 1998 Generally Recognized
Expense Table (Attachment Three-A) ................................................... 628
Technical Resource Advisors Report dated May 23, 1997
(Attachment Three-Bl ............................................................................ 631
North Dakota Bulletin-Indexed Annuity and Life Products
(Attachment Three-C) ............................................................................ 638
Annuity Disclosure and Sales Illustrations Model Regulation Draft dated
May 9, 1997 (Attachment Three-0) ....................................................... 642
Life Disclosure Working Group April 30, 1997, Minutes
(Attachment Three-E) ............................................................................ 649
1997-2
Life Disclosure Working Group Dec. 6 and 8, 1997, Minutes
(Attachment Three) ....................................................................................... 782
1998-1
Life Disclosure Working Group March 16, 1998, Minutes (Attachment Eight) ... 712
Life Disclosure Working Group Feb. 19-20, 1998, Minutes
(Attachment Eight-C) ........................................... ................................. 728
1998-2 v2
Life Disclosure Working Group June 21 and 23, 1998, Minutes
(Attachment Three) ....................................................................................... 677
American Academy of Actuaries Interim Report on Supportability Testing
of the Disclosure Working Group of the Committee on State Life ·
Insurance Issues Dated June 1998 (Attachment Three-C) ............... 692
American Academy of Actuaries Survey of First-Year Company Experience
Under Life Illustration Regulations Based on the New NAIC Model
☐Dated June 1998 (Attachment Three-D) ........................................... ... 709·
Life Disclosure Working Group May 20, 1998, Minutes
(Attachment Three-E) ................................................................... .... 722
1998-3
Life Disclosure Working Group Sept. 13 and 15, 1998, Minutes
(Attachment Four) ............................................. ................... ...... ............. ...... 542
Life Disclosure Working Group July 28, 1998, Minutes
(Attachment Four-E) .............................................................................. 565
1998-4
Life Disclosure Working Group Dec. 7, 1998, Minutes (Attachment Three) ........ 627
Annuity Disclosure Model Regulation Dec. 7, 1998, Draft
(Attachment Three-A) ............................................................................ 629
Life Insurance Illustrations Issues (Attachment Three-B) ........................ ... 632
Life Disclosure Working Group Oct. 20, 1998, Minutes
(Attachment Three-C) ......................................................................... ... 632
1999-1
Life Disclosure Working Group March 8, 1999, Minutes (Attachment Three) ..... 528
1999-2
Life Disclosure Working Group June 8, 1999, Minutes (Attachment Three) .... ... 509
1999-3 v2Life Disclosure Working Group Oct. 4, 1999, Minutes (Attachment Three) ........ 773
Life Insurance Disclosure Model Regulation Oct. 4, 1999, Draft
(Attachment Three-A) ............................................................................ 775
1999-4 v2
Life Disclosure Working Group Dec. 5, 1999, Minutes (Attachment Three) ........ 858
Life Insurance Disclosure Model Regulation Draft Dec. 5, 1999
(Attachment Three-A) .............................................................................. 859
Universal Life Insurance Model Regulation Nov. 30, 1999, Draft
(Attachment Three-B) .............................................................................. 883