Policy Changes 1975 0619 – NYT – With “Life-Cycle” Insurance Policies Coverage May Be Changed With Needs (Adjustable Life), by Leonard Sloane – [link-Paywall Free]  Policy Changes Have any companies considered restricting policy changes because of increased administrative difficulties due to automation? Is the cost of policy changes out of proportion to their business value?…

Read More

Expectations Focus Groups Life insurance, because it is a nontangible product, is extremely susceptible to being perceived as whatever people think it to be.  —   Larry Silkes 1983 – SOA – Universal Life Valuation and NonForfeiture: A Generalized Model,  Shane A. Chalke and Michael Davlin, Society of Actuaries – 72p The most obvious is if we fail…

Read More

Free Look / Cooling Off Period NAIC – CIPR-Knowledgebase – Model Regulation 582: Life Insurance Illustrations – [link] Question:  …. if the regulation includes a 10 day free look provision, would staff also provide me with minutes and other official notes on the purpose of the free look period? Answer: … the “10 day free look provision”……

Read More