Illustrations – Page 2

Q: Who Can Explain How Life Insurance Policies Work? The insider joke about indexed universal-life policies is that it takes an actuary, an attorney and maybe even an engineer to understand how the product works. Some regulators worry that hypothetical projections of savings growth using these indexes are overly rosy and can lead to unrealistic…

ACLI – TRG – Technical Resource Goup – NAIC George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC (Industry Advisory Group – Illustrations) 1990s – LDWG -Life Disclosure Working Group – (A) – NAIC I think you really have to make sure that people understand volatility, whether you solve for a policy blowing up…

Illustrations – COI – Cost of Insurance … the Court likewise discerns no bad faith in LSW’s decision to illustrate policy performance net of fees rather than to illustrate those fees as separate line items in all instances. 2015 0415 – LC – Document 791 – Order Regarding Post-Jury Trial UCL Proceedings Judge Selna -…

LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC – Index LIIIWG – Life Insurance Illustration Issues Working Group – NAIC LIIIWG – before start LIIIWG – Ad Hoc Group LIIIWG – extra liiiwg – Questions LIIIWG – References / Documents LIIIWG – Snippets LIIIWG – Snippets of NAIC Proceedings 508 –…

1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p 1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p BRADLEY E. BARKS (Chief Product Actuary for LIfeUSA Insurance Company: The subject we are going to talk about is life insurance and disclosure regulation, which the NAIC is working…

1991-1992 – SOA – Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries – 142p 1991-1992 – SOA – Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries — [BonkNote] — 142p Appendix II – Illustration Examples *Opinions expressed herein are…

Illustrations – Cost 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 Walker v LSW Judge, Defense Attorney GOV – no room on page New York – OGC Op. No. 07-08-11 – The…

Illustrations – Expectations Robert E. Wilcox, Utah Insurance Commissioner and Chairman of the Life Disclosure Working Group (NAIC) – If the policyholders’ expectations are built around the concept that they are going to get a fair dividend, and that fair dividend means that, if the interest rate goes up, policyholders get more, and if rates…

Misleading Illustrations Apples and Oranges. We continue to put out these apples vs. oranges illustrations. We’re misleading our policyholders. We are providing the ammunition to make replacements of inforce policies with new coverage that is not in the policyowner’s best interest. — Walter Miller: 1983 – SOA – Surplus Distribution and Allocation for New and…

2019 0917 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC 2019 0917 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC — [BonkNote] (A) – NAIC Proceedings (Fall, 6-77) (B) – [Bonk: Not in NAIC Proceedings] 2016-2, 0513 – NAIC Proceedings – LIIIWG, Life Insurance Illustrations…