Debatable – Page 3

Target Market I have a comment which you can respond to if you wish. Universal Life might well be a more appropriate product than Adjustable Life for the very sophisticated, very high premium, as you mentioned, product or sale. However, I think that there is a major segment out there where Universal Life Just would…

Sales Practices Frankly, I think that present sales practices give dividend “illustrations” too much prominence compared with actual dividend histories. — KENNETH R. MACGREGOR 1971 – MUTUAL LIFE INSURANCE COMPANIES–THEIR OBJECTIVES AND OPERATING PHILOSOPHY, Society of Actuaries – 250p

Whistleblowers Agent – Snippets – 1990s Threats and Intimidation 2023 – Book – Lapsed: The Universal Life Insurance Whistleblower, by Elan Moas 2022 0212 – Twitter – @MartyLeary1 – [link] I believe most frauds that come to light do so because an internal whistleblower teamed up with a good journalist. 2009 – AP – Who…

Q: Is Universal Life Insurance a Traditional Product? Due to the unique nature of universal life products, a number of states have issued guidelines governing the sale of such products. These guidelines address contractual requirements as well as policyholder disclosure procedures. — Leonard E. Odell, ACLI 1981 – SOA – Universal Life (RSA81V7N412), Moderator: Samuel H.…

Regulatory Arbitrage 2022 – LR – Regulatory Competition in the US Life Insurance Industry, by Johnny Tang, Harvard – 88p Competition between jurisdictions is a central feature of many public policy problems. I examine the consequences of such competition in the US life insurance industry, where states vie to attract insurers by setting lower capital requirements,…

Long-term As a liability-driven business, insurance often has long-term cash-flow patterns compared to shorter-term activities at banks. Consequently, current law fails, I believe, to adequately account for the business model and risk profile of insurance companies, and that should concern us all. (p1) — Senator Richard Shelby (R-AL) 2015 0428 – GOV (Senate) – The…

Corporate Governance Under some permanent insurance, contracts being sold today, the chances are you could stop paying after 7, 8, or 9 years and the insurance would remain in force for the rest of your life without further premium payments. (p6069) — Robert Beck (Prudential CEO) 1985 0719 and 0722 – GOV (House) – Comprehensive…

Transparency Transparency is a concept imported by Spencer Kimball. Hart Hearings, supra 28, at 1086·1237, 1087·1088 – (testimony of Spencer Kimball); 1980-2, NAIC Proceedings

Ethics THE KEY ETHICAL DILEMMAS IN MARKETING INSURANCE: A COMPARISON OF THE TWO MAIN SEGMENTS OF THE INSURANCE INDUSTRY, Robert W. Cooper, Drake University, by Garry L. Frank, Drake University – 7p 1993 – AP – Ethical Issues, Helps, and Challenges: Perceptions of U.S. Actuaries, Vaughan, Cooper, Frank – 2011 – JFSP -The Ethical Environment…

Market Moving Information Change no Damage?? I have heard that the designation process is not transparent, and I am all for increased transparency, but I assume the Council must balance transparency against disclosing confidential or potentially market-moving information. (p37/2:08) — Senator Elizabeth Warren (D-MA) 2015 0325 – GOV (Senate-Banking) – FSOC Accountability: Nonbank Designations -…