Illustrations

Illustration – Descriptions From the Floor: Hal, do you really think that it’s reasonable to get an insurance community to agree on a single definition of an illustration? Mr. Phillips: I’m very hopeful that we could agree. Actuaries should agree first, of course. If we can’t agree and move forward, then I’m really discouraged. Then…

Packets In a Universal Life policy, you can choose a flexible premium payment pattern as long as you pay enough to keep your policy in force.” Evaluate the Future of Your Policy Does your policy have a cash value? Ask your insurance agent, financial advisor, or an insurance company representative for an illustration showing future…

On Notice – Illustrations – General NAIC to Governors – 199x 1992 – GOV- when will/ Disclosure AAA to NAIC NCOIL to State Insurance Departments Tony Higgins (N.C.) referred the group to a resolution of the National Conference of Insurance Legislators (NCOIL) urging state insurance departments to become aware of disclosure and abuse issues in…

Life Insurance Illustrations Model Regulation – LIIMR – 582 – NAIC Life Insurance Illustrations Model Regulation – LIIMR – 582 – NAIC Proceedings – Citations — [BonkNote] George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC (Industry Advisory Group – Illustrations) Obviously, this isn’t the first time the industry and the regulators have become involved…

Illustrations – Problems We’ve all heard a lot about the junk bond crisis. Is the next crisis going to be junk illustrations? — Judy Faucett 1991 – SOA – Illustrations, Society of Actuaries – 20p The number one perceived problem is that buyers simply do not understand the nonguaranteed nature of life insurance illustrations. Also, it is…

2016 0517 – LIIIWG – NAIC Performance Assurity White Paper Assurity White Paper – in particular, the impact consumer payment patterns have on the performance of the product. Mr. Wicka said the paper advocates for: 1) additional information to be provided to consumers regarding how the timing of their payments impacts the product; and 2) follow-up information to…

2016 0403 – Life Insurance Illustration Issues Working Group – (A) – NAIC Performance Explanation Mr. Schwartzer 1. Discussed its Work Plan Mr. Schwartzer reminded the Working Group that the Life Insurance Illustration Issues (A) Working Group came out of concerns raised when the Indexed Universal Life (IUL) Illustrations (A) Subgroup under the Life Actuarial…

LIIIWG – Snippets 2015 2015-1 2015-2 2015-3 3. (LIAC) Appointed a New Working Group to Address Life Insurance Policy Illustration Issues In response, she <Commissioner McPeak> said the Committee received comments from the American Academy of Actuaries (Academy), the American Council of Life Insurers (ACLI), the California Department of Insurance, the Massachusetts Mutual Life Insurance…

LIIIWG – Life Insurance Illustration Issues Working Group – (A) – NAIC LIIIWG – Life Insurance Illustrations Issues Working Group – NAIC – Index Birny Birnbaum – NAIC Consumer Representative, CEJ Brenda Cude – NAIC Consumer Representative, University of Georgia, Financial Planning, Housing and Consumer Economics Michael Lovendusky – ACLI Mary Mealer – Missouri Emily…

Grading Actuaries did use interest assumptions in pricing their product, often as aggressive as 6 1/2%, which were graded to an actuarially responsible 4% or so. — Stanley B. Tulin 1981 – SOA – Asset Management for an Insurance Company, Society of Actuaries – 14p Where were the people that wanted to do that when we…

Illustration – Descriptions

Packets – Illustration

On Notice – Illustrations – General

Life Insurance Illustrations Model Regulation – LIIMR – 582 – NAIC

Illustrations – Problems

2016 0517 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC

2016 0403 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC

LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC – Snippets

LIIIWG – Life Insurance Illustration Issues Working Group – (A) – NAIC

Grading