Debatable

Where Did They Get Their Information? With more conservative assumptions, policyholders pay in higher amounts in premiums than are required to pay the death benefits they contract for. Because the premiums earn more in reality when invested than they were assumed to and because the benefit payouts occur less gradually in reality than they were…

Lapse vs. Surrender Lapses and Surrender Charges Ideally you would like to compare lapses (no cash value) and surrenders (with cash value). 1994 – SOA – VALUATION ACTUARY SYMPOSIUM PROCEEDINGS – SESSION 8 – Life and Deferred Annuity Liability Models – 32p

Universal Life – Whole Life or Any Plan – History Rewritten Universal Life is not well understood and part of the mystery about it may well be due to a failure in my communication…… …….Universal Life was developed in 1962 as a generic plan, which means that it subsumes all other life insurance products.…

Market Conduct Regulation vs. Solvency Regulation Solvency Market Conduct In guarding the public against insolvent insurance companies state supervision has been eminently successful. In protecting the people against frauds, impositions and abuses by solvent companies it has been only partially successful. (p215-228) “Deceptive Insurance Methods –The Cure”, By Mr. E. E. Rittenhouse (Colorado, Insurance Commissioner…

Twin Peaks Regulation “twin peaks” “regulation” “reputational” GOV Video – ?? 1st COP Hearing – Sununu

Plan of Insurance vs Policy vs Contract Any of the foregoing provisions or portions thereof not applicable by reason of the plan of insurance may to that extent be omitted from the policy. (p243) 1942-Supplement, NAIC Proceedings

Low Interest Rate Environment The low interest rate environment poses a significant challenge for life insurers with sizable blocks of liabilities incorporating embedded interest rate guarantees, such as annuities or universal life insurance policies. The industry has reduced its minimum guarantees over time, but products sold when interest rates were higher represent a continue drag on…

Q: What came first Universal Life or Adjustable Life? 1981 0511 – Ventura County Star / NYT – ‘Universal’ insurance making gains – newspapers.com/article/ventura-county-star/146622810/ The Life Insurance Co. of California was the first to sell the universal policies, in January 1979. Its name later was changed to Hutton Life. Adjustable Life Unfortunately the terminology that has developed…

Q: Does the NAIC get anything done without pressure from Congress? The whole process started in the NAIC, as it had to. If radical changes in the way we illustrate policies were going to be made, they had to start at the NAIC. The NAIC was only too well aware of the fact that sales…

Works Policy Mechanics / Cash flow Starters – Policy Cash Flow Mechanics Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA – Life Insurance and the Buyer, by Anna Rappaport, Society of Actuaries – 2p-Article 198x? – Wisconsin Buyer’s Guide Adjustable Life The ACLI’s Dolan says the size…

Q: Where Did They Get Their Information?

Lapse vs Surrender

Rewriting History? – Universal Life

Market Conduct Regulation vs Solvency Regulation

Twin Peaks Regulation

Plan of Insurance vs Policy vs Contract

Low Interest Rate Environment

Q: What Came First Universal Life or Adjustable Life?

Q: Does the NAIC Get Anything Done Without Pressure From Congress?

Works