Debatable – Page 8

P1P2 P1P2 – Grid P1P2 – Actuarial P1P2 – Legal Case – Maloof v John Hancock P1P2 – NAIC P1P2 – NAIC – Life Insurance Buyer’s Guide Start – Policy Cash Flow Mechanics P1->P2->SIV P1->SIV->P2 Roger Strauss (Iowa) said a fundamental issue was that the consumer realize that the premium is being paid from someplace. …

Optional Federal Charter 2007 1214 – CRS – Insurance Regulation: Optional Federal Charter Legislation – 16p 2004 – AP – Consumer Ramifications of an Optional Federal Charter for Life Insurers, Sheila Bair – 273p Chart – p262 2008 – SOA – Optional Federal Charter (OFC)—Another Acronym, Another Concern, By Norman E. HIll – 5p “OFC proposal”…

Fairness Now we want to make sure that the consumers are treated fairly and reasonably and have sufficient information upon which to make a decision. (p318) — James P. Corcoran. , Superintendent of Insurance, State of New York 1984 – {April 11, May 3, 10, June 28, September 13} – GOV – Competition in the…

Universal Life Insurance does not “Fit” into the existing regulatory framework This regulation is designed to address those areas where universal life insurance does not “fit” into the existing regulatory framework. (p1) NAIC – Universal Life Insurance Model Regulation – MDL-585 – 22p New York reports that they have determined that Section 216 and 208,…

People Can Disagree There is bound to be a controversial element in anything that enlightens the public to these differences and gives them a more intelligent basis for choice than they have at the present time. — Ernest J. Moorhead 1977 – DEBATE, “RESOLVED. THE LIFE INSURANCE BUSINESS, AS TRANSACTED TODAY, IS IN ITS TERMINAL STAGES, Society…

Coverage Period Coverage Period – Examples As long as you pay the premium Key Attributes of Generic Life Insurance Policies — Table 4-2 Duration of coverage – Universal Life – Depends on premiums paid. (p111) 2015 – Book – Life Insurance, 15th Ed. – Black jr., Skipper, Black (Huebner Series) The agent said that Universal…

Q: Universal Life – Who wanted this? In more modern times, insurance products became considerably more complex (e.g., universal life type products with various forms of guarantees, various forms of renewable term, etc.). These products arose from a significant rise in interest rates in the early 1980’s and a wave of consumer demand for products…

Universal Life – Commissions Mr. Douds – I know that one of the problems with the new products when they were first introduced was that agents didn’t feel that they paid high enough commissions, and since that time, companies interested in marketing those products have tried to adjust their compensation plans accordingly to make their…

Run on the Life Insurance Company Run (p47) – Dennis ROSS (R-FL). There hasn’t been a run on life insurance, has there? Are people all of a sudden going to go and cash in their life insurance policies? Because if they are, then our serious consequences for economic structure are way out of line. 2015…

Games, Gimmicks and Tricks Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? (p3) — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) — [BonkNote] It is my recollection and understanding that AG 49 was created in…