Policies
Policy Overview / Cover page / Narrative
Policy Overview / Policy Summary / Cover page / Narrative Summary Policy Overview Ideas [George Coleman]… said that the NAIC had formed a resource group last November to assist and recommend changes. The resource group recommended a cover page to the illustration to include essential information about the illustrated policy. — George Coleman, Prudential, ACLI,…
Read MoreIUL – Indexed Universal Life Insurance
IUL – Indexed Universal Life Fixed Indexed Universal Life The ACLI’s Dolan says: “Owners of this product must be aware of exactly how it works, because, unlike certain other types of life insurance, IULs have a fluctuating component to them.” 2020 0923 – Forbes – Sounding The Alarm On Indexed Universal Life Insurance – [link] 2018 -…
Read MorePolicy Comparison
Policy Comparison JAMES F. REISKYTL: Bob, if I were coming to you to buy a policy, how would you tell me to compare whatever you’re selling? You said you offered policies for three or four companies. How do you compare those policies and tell me which one I should buy? Bob NELSON <NALU/NAIFA Representative>: “Inadequately”…
Read MoreVL – Variable Life Insurance
VL – Variable Life Insurance 1973 01 – SEC – Variable Life Insurance and the Petition for the Issuance and Amendment of Exemptive Rules, Securities and Exchange Commission — [BonkNote] 1973 0213 – SEC Docket – Volume 1, Number 1 – [PDF-633p-GooglePlay] 1973 0207 – NYT – Oppenheimer Will Enter Insurance Field, By Robert J.…
Read MoreVUL – Variable Universal Life Insurance
VUL – Variable Universal Life The product is likely to be sold by sophisticated agents and financial planners. Many of these agents and planners are accustomed to similar investment features in annuities and will be the first to make the transition to variable universal life. Another distribution source for the product is stockbrokers. — Zafar…
Read MoreGuarantees Only
Guarantees Only – Illustrations The regulators reached a decision to require that illustrations only show guarantees of future performance and actual past performance. 1994-1 NAIC Proc. A concern I have about illustrating guaranteed only is the potential pressure that can be put on companies to strengthen their guarantees. There was a recent article in the…
Read MoreUL – Universal Life Insurance
UL – Universal Life Insurance Universal Life – Index Universal Life Descriptions NAIC – Universal Life Insurance Model Regulation (MDL-585): – 22p NAIC – ULMR – Universal Life Insurance Model Regulation (MDL-585) – Citations GMF – Guaranteed Maturity Fund GMP – Guaranteed Maturity Premium R-Ratio Most of us have forgotten the original concept of…
Read MoreWhole Life
Whole Life Permanent Life Insurance Universal Life as Permanent / Whole / Other Why is Universal Life Insurance sometimes called Whole or Permanent? Whole Life Insurance Policy vs can last the “Whole of Life” Persons seeking life insurance for the Whole of Life have several choices: they may: buy a one-year renewable term contract and…
Read MorePolicies
Policies Policies – Index The … company is to determine for itself which of its plans are to be treated as term insurance and which as permanent. The original instructions gave as a suggested definition of term insurance “that it is any policy with a premium rate less than 90% of the no profits rate…
Read MoreAdjustable Life Insurance
Adjustable Life Insurance Adjustable Life Insurance – Index Adjustable Life Descriptions Universal Life as Adjustable Life Universal Life and Adjustable Life are Different Q: What Came First Universal Life or Adjustable Life? 1977 10 – Changing Times – Adjustable Life 1978 0812 – The Washington Post – Insurors Joining Adjustable Policy Bandwagon, By Nancy L.…
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