Illustrations
LIIIWG – Life Insurance Illustration Issues Working Group – (A) – NAIC
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…
Read MoreRange Approach
Range Approach 1988-2, NAIC Proceedings, 1988 0613 – ACLI – Statement on Behalf of the American Council of Life Insurance to the NAIC Market Conduct Surveillance (EX3) Task Force (Attachment 2) – 3p 1988 12 – SOA – Two Approaches to Life Insurance Cost Illustrations, Society of Actuaries – 4p 2017 10/15 or 19 -…
Read MoreGrading
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…
Read MoreLIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC – Ad Hoc Group
LIIIWG – Ad Hoc Group Questions / Observations / Stuff – Who were the members of the Ad Hoc Group? Specific names – What Information was gathered? How was the Information gathered? 5/17/2016 LIII WG 2016-2 If the summaries are able to be shared, Mr. Wicka suggested, and the Working Group agreed,…
Read MoreThe Actuary – Illustrations
The Actuary – Illustrations 1988 The Actuary Illustrations a Call to Action Daphne Bartlett
Read MoreLife Insurance Illustrations Model Regulation – LIIMR – 582 – NAIC Proceedings – Citations
Life Insurance Illustrations Model Regulation – LIIMR – 582 – NAIC Proceedings – Citations NAIC Model Laws, Regulations, Guidelines and Other Resources—January 2011 LIFE INSURANCE ILLUSTRATIONS MODEL REGULATION – PC-582-1 Proceeding Citations – All references are to the Proceedings of the NAIC — [BonkNote] 1993 Proc. IB 794 In November 1992 a working group [Life…
Read More4 – Illustrations
4 – Illustrations NAIC – Current / Recent Working Groups 11/14-15/2014 LATF 6-63 Anthony Ferraro (New York Life) said that one of the goals of the Life Insurance Illustrations Model Regulation (#582) is to make sure that illustrations do not mislead consumers. ………………………… He emphasized that it is important that the accumulated cash flows…
Read More1993 – SOA – Sales Illustration – We Can’t Live With Them, But We Can’t Live Without Them!, Society of Actuaries — 28p
1993 – SOA – Sales Illustrations – We Can’t Life With Them, But We Can’t Live Without Them! – Snippets 1993 – SOA – Sales Illustrations – We Can’t Life With Them, But We Can’t Live Without Them!, Society of Actuaries — [BonkNote] — 20p Judy Faucett, former chairperson of the Society Task Force on…
Read More1992 – SOA – Life Insurance Sales Illustrations – Society of Actuaries – 16p
1992 – SOA – Life Insurance Sales Illustrations – Society of Actuaries – 16p 1992 – SOA – Life Insurance Sales Illustrations, Society of Actuaries — [BonkNote] — 16p The agent, as a result of not understanding the illustration, may misrepresent the product to the consumer. — Judy Faucett The bottom line is, however, that we…
Read MoreIllustrations – History
Illustrations – History In the use of these illustrations, agents must carefully discriminate between what is guaranteed in the policy, and what is only a possibility… (p42 of 240) 1896 – Ratebook – Premium Rates, Guarantees and Illustrations of Policies – New York Life Insurance Company – 240p Senator Metzenbaum Prudential Multi-State Task Force Report…
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