Debatable
Interest Rate – We Won’t Have To Pay It
Interest Rate – We Won’t Have To Pay It 2005 1117 – GOV (Senate) – A Review of the GAO Report on the Sale of Financial Products to Military Personnel, Richard Shelby (R-AL) — [BonkNote] (p21) – Paul SARBANES (D-MD). Is there not information from the companies, like internal memos and so forth, where they…
Read MoreDouble the Death Benefit
Double the Death Benefit We designed commission rules that anticipated a relatively large number of rollovers of existing policies;. ..full commissions are paid provided the new Universal Life face amount is at least two times the face amount of the replaced policy. — Phillip B. Norton, not a member of the Society, is Vice President of The Lincoln…
Read MoreCopy of Q: How Can Universal Life Insurance Be Classified? Permanent / Whole / Term / Other
Q: How Can Universal Life be Classified? Permanent / Whole / Cash Value / Term / Other Q: Why is Universal Life called Permanent or Whole Life? Maybe Universal Life Shouldn’t be Called Permanent or Whole Life Q: How Else Could Universal Life Be Explained? NAIC Drafting Note: Although highly flexible, Universal Life insurance is…
Read MoreQ: Who Watches the Insurance Regulators?
Q: Who Watches the Insurance Regulators? 2011 0914 – GOV (Senate-Banking/SII) – Emerging Issues in Insurance Regulation, Senator Jack Reed (D-RI) — [BonkNote] (p23) – Daniel Schwarcz (Professor of Law): And I just want to emphasize the way to watch the regulators is to have transparent information so that the public can see what they are…
Read MoreRumors
Rumors (b) Listen to the rumors. One interesting fact about rumors: they are often true. Also, rumors tend to run ahead of public disclosure of significant problems. It is important to pay attention to what is being said in the street about particular companies. It is also important to consider such information carefully so that…
Read MoreLife Insurance and Banking
Life Insurance and Banking Banking and insurance are related, but the insurance industry is fundamentally different, and our approach toward regulators must consider those differences. (p2) — Senator Jack Reed (D-RI) 2011 0914 – GOV (Senate) – Emerging Issues in Insurance Regulation – Congressman Reed (RI) – PDF-51p 1998 – LR – The Law and Finance…
Read MoreQ: How Does US Insurance Regulation Compare to International Insurance Regulation?
How Does US Insurance Regulation compare to International Insurance Regulation? (p4) – Mr. ROYCE (R-CA). Well, with our fragmented regulatory regime over insurance, I think it is very clear that we are lagging behind the rest of the world. Solvency II will be implemented by the EU in the coming months, and that will bring…
Read MoreLow Cost
Low Cost 1980 – LC – Phoenix Mut. Life Ins. Co. v. INSURANCE DEPT 500 F. Supp. 2 (S.D.N.Y. 1980) Nevertheless, an insurable person today can generally buy permanent insurance at apparently lower cost than ever before. How has this been achieved? It has been accomplished by mercilessly squeezing profit margins, by assuming recent lapse…
Read MoreQ: Who Can Call Themselves an Actuary?
Q: Who Can Call Themselves an Actuary? Quoting Humpty-Dumpty, “When I use a word it means just what I choose it to mean,” the speaker predicted that the day is passing when the word “actuary” can be used by anybody to mean whatever that person chooses it to mean. Those who apply the word “actuary”…
Read MoreNo Runs on Life Insurance
No Runs on Life Insurance GOV – Congressman Ross, Holtz-Eakin GOV – Congressman Duffy, Daniel Schwarcz 2011 1116 – GOV (House) – Insurance Oversight and Legislative Proposals – pdf-131p (p15) – Mr. MONROE ( Compliance Officer, U.S. & Canada, for Marsh, Inc., on behalf of the Council of Insurance Agents & Brokers). I will keep…
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