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Bartley Munson
Bartley Munson AAL – Aid Association for Lutherans SOA – Committee on Truth in Life Insurance of the Society of Actuaries – Bartley Munson, Chairman TILI – Truth In Life Insurance Bart Munson (William M. Mercer Inc.) noted that life insurance disclosure issues have been the subject of ongoing debate for years and that extensive work…
Read MoreHal Phillips
Hal Phillips Hal Phillips, aka William H. Phillips, aka W. Harold Phillips senior life actuary with the California Department of Insurance One regulator [W. Harold Phillips (Hal), Senior Life Actuary – CA) summarized the problem in his department – Attachment Two-A: Misleading illustrations are structured as inducements to buy rather than helpful tools to understand the workings…
Read MoreDonna Megregian
Donna Megregian What is supportable is up to the illustration actuary and involves all aspects of the product, not just the crediting rate. — Donna Megregian 2015 – SOA – Actuarial Guideline 49 (aka Actuarial Guideline YY), Society of Actuaries – 3p
Read MoreThomas Sutton
Thomas Sutton The Actuarial Foundation – Emeritus Trustees – 2023 — [BonkNote] Pacific Life ACLI SOA Tom Sutton, ACLI / Pacific Life – My personal opinion is that I would not have any problem with a kind of disclosure that could be communicated simply, but was based on extensive analysis by someone capable of making…
Read MoreLinda Lankowski
Linda Lankowski 2023 0601 – NAIC – Life Actuarial (A) Task Force Attendees – Donna Claire, Linda Lankowski 2023 – AAA – Life Perspectives, Winter/Spring 2023, American Academy of Actuaries – [link] Donna Claire – Chair – Life Experience Committee Linda Lankowski – Chair – PBR Implementation Work Group Dave Sandberg – gave a life perspective…
Read MoreJohn Skar
John Skar John R. Skar, Fidelity Mutual Society of Actuaries Task Force for Research on Life Insurance Sales Illustrations under the auspices of the Committee for Research on Social Concerns 1991-1992 – SOA – Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries – 142p Appendix II – Illustration Examples…
Read MoreMarty Leary
Marty Leary 1991 0810 – Opportunities and Remedies for U.S. Finance – [VIDEO-CSPAN] 8:00 – Marty Leary, Economist Southern Finance Project – Guaranty Funds 1992 0428 / 0505 – GOV (Senate) – Insurance Guaranty Funds and the Involuntary Transfer of Insurance Policies, (CSPAN) Insurance Policy Transfers – Howard Metzenbaum (D-OH) — [BonkNote] Panel 2 – Marty Leary, Southern…
Read MoreBradley Barks
Bradley Barks I agree that there are currently lost of numbers in illustrations for comparison purposes and that we might not have the right ones yet. But even if the “ideal” numbers exist, I would submit that this is not the answer to the problem of illustrations. Lee Dreyfus said in the general session that…
Read MoreBenjamin Bock
Benjamin J. Bock TransAmerica / Occidental 1991-1992 – SOA – Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries – 142p Judy A. Faucett (Chairperson), Benjamin J. Bock, Bruce E. Booker John W. Keller, John R. Skar, Linden N. Cole 1991-1992 – SOA – Final Report* of the…
Read MoreJohn Keller
John W. Keller The number one perceived problem is that buyers simply do not understand the nonguaranteed nature of life insurance illustrations. Also, it is impossible for the average buyer to judge the reasonableness of the assumptions underlying the numbers in the illustration. — John W. Keller, Northwestern Mutual 1991 – SOA – Illustrations, Society of…
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