ACLI - IUL

  • 1. Voted to Expose the ACLI and the Alternative Actuarial Guideline for IUL Illustrations
    • Paul Graham (American Council of Life Insurers--ACLI) said the ACLI's proposed actuarial guideline for indexed universal life (IUL) illustrations (Attachment Eight-A) was approved by a supermajority of members of the ACLI Life Insurance Committee, the CEO Steering Committee on Retirement and Financial Security, and the Board of Directors.
    • John Bruins (ACLI) highlighted the substantive modifications that have been made to the proposal since its initial introduction in March 2014.

2014-1, NAIC Proc. - LATF - Life Actuarial (A) Task Force

  • 2014-1, NAIC Proceedings
    • Attachment Twenty-Six - Life Actuarial (A) Task Force - 11/14-15/14 - October 28, 2014
    • To: Mr. Mike Boerner, Chairman - NAIC Life Actuarial Task Force
    • From: ACLI
      • Re Actuarial Guideline on Illustrations of Indexed Universal Life Policies
      • Illustrated rates vs. market conduct items
      • Consistency across UL products
        • The maximum illustrated rate should be set at a level that is consistent with other products and allows IUL illustrations to illustrate these differences.
        • The 12% maximum illustrated rate was selected for VUL because it was unlikely that an average would exceed 12%.
        • The maximum for IUL illustrations should be set with a similar goal.