1980s

1980s We’ve seen more product change and more increasing frequency of product change in the 1980s than ever before. — William R. Britton, Jr. 1988 – SOA – Group Universal Life Product, Society of Actuaries – 22p So, here we are in May, 1982. I submit that this is MAYDAY for the life insurance industry. Why…

Government Hearings – 1980s heinonline.org/HeinDocs/HeinOnline_Apr_2012_content_release.html 1980 1119 – GOV (Senate) – Taxation of Certain Annuity Contracts and Normalization Requirements for Certain Public Utility Property [PDF-144p-Senate-Link], VIDEO-?] ->Not on govinfo.gov – R Senate – Committee on Finance – Subcommittee on Taxation and Debt Management Generally 1981 – ojp.gov/pdffiles1/Digitization/84004NCJRS.pdf APPENDIX 2 – MARCH 30, 1981. – THE COMMONWEALTH…

DIY – Do It Yourself 28 Oct 1981, Wed Journal and Courier (Lafayette, Indiana) Newspapers.com In fact, it is accurate to describe Universal Life as a generalized version of the actuarial formulas underlying traditional life insurance products. In other words, it is possible to produce any traditional plan of insurance from the generalized formulas underlying…

1983 – CR – Congressional Record Senate Finance Committee stopgap rules 19831025 – (29100) INTRODUCTION OF BILLS AND JOINT RESOLUTIONS The following bills and joint resolutions were introduced, read the first and second time by unanimous consent, and referred as indicated: By Mr. BENTSEN (for himself, Mr. CHAFEE, Mr. MoYNIHAN, Mr. DANFORTH, Mr. BOREN, Mr.…

TEFRA TEFRA – DEFRA – TAMRA 1982 – TEFRA – Tax Equity and Fiscal Responsibility Act of 1982 – congress.gov/bill/97th-congress/house-bill/4961 Stopgap Law Metzenbaum, Dole, Long congress.gov/98/crecb/1984/04/10/GPO-CRECB-1984-pt6-6-2.pdf What happened under TEFRA? Several things: We lost MODCO 820 forever. We had a deceptively modest reduction in 818(c)2. A lot of the teeth were taken out of reinsurance…

1985 – FTC – Report – Life Insurance Products and Consumer Information 1985 11 – FTC – Report – Life Insurance Products And Consumer Information, by Michael P. Lynch and Robert J. Mackay, Staff Report Bureau of Economics, Federal Trade Commission — [BonkNote] — [PDF-317p] (p36) – See, for example, the statement of John Filer, then…

1984-1 The changes in the nature of the insurance industry over the past several years, both in terms of product diversification and asset diversification, has created considerable stress on the regulatory control mechanisms. Some of the symptoms of the problem are: 2. Increased leveraging of insurance companies through long-term interest rate guarantees on an increased…

1985-1B, NAIC Proceedings 1984 1212 – AAA – The NAIC And The Actuarial Profession – Attachment Three – American Academy Of Actuaries Statement of Stephen G. Kellison, Executive Director Of The American Academy Of Actuaries To The NAIC Technical Services Ex5 Subcommittee The purpose of this statement is to speak in favor of establishment of a…

1988-2 (p434) – Two-B -Proposed regulation by the California Department of Insurance, draft dated 4/11/88 concerning the valuation of universal life insurance plans. The regulation provides for the pre-funding of cash values, so that the amounts will be available upon policyholder demand, and will not be contingent upon sufficient surplus being available at that time…

Bulletin on Illustrated Interest Projections – NAIC Projected Interest Earnings Working Group – NAIC 1990-2 – Projected Interest Earnings Working Group April 1 7, 1990 Report (Attachment Three‐Bl) … 578 1991-1A – Bulletin on Illustrated Interest Projections Amended Exposure Draft (Attachment Eight-A) ………. 561 1994-1A, NAIC Proceedings – 7. Adopt Illustrated Interest Projections Bulletin Commissioner Mike…

1980 – 1989

Government Hearings – 1980s

DIY – Do It Yourself

1983 – CR -Congressional Record

TEFRA

1985 – FTC – Report – Life Insurance Products and Consumer Information

1984-1, NAIC Proceedings

1985-1B, NAIC Proceedings

1988-2, NAIC Proceedings

Bulletin on Illustrated Interest Projections – NAIC