Vanishing Premium – Lawsuits Vanishing Premium Q. Do you recall the vanishing premium litigation? A (Wilcox): Very well. Q. Would you agree that the sales practices that were used in the vanishing premium — in selling those policies was problematic? MR. HIGGINS: Objection. Vague. THE WITNESS (Wilcox): In a limited number of cases, that was…

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Required Premium NAIC – LIIIWG – Lois Lerner Johnston & Johnston v. Conseco * Paying more than the required minimum premium can help build cash value 2023 – Prudential – Supplementing Retirement Income with Cash Value Life Insurance  –  Cash Value: Life Insurance in Retirement Planning – 2p (p5) – After receiving these notices, John…

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Cost – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# C Charges COI – Cost of Insurance Cost Costigan v. John Hancock Costs and Illustrations – Walker vs. LSW Costs of Lawsuit – Walker vs. LSW Cost Benefit Cost Comparison Cost Disclosure Cost Indices Subgroup – (A) – NAIC Cost of Insurance Cost Structure Cost – Index Back to top E…

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Minimum Premium An approach which seems to be gaining in popularity expresses commissions as a percent of a target or a minimum premium. — Christian J. DesRochers 1983 – SOA – Universal Life (RSA83V9N212), Society of Actuaries – 24p 2. As admitted by Joel Kuni, Farmer’s Product Development Actuarial Manager, in his deposition of 5-7-2003, at page…

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Financed Premiums 2011 0629 – Forbes – Wild Pitch, by Deborah L. Jacobs – [link] Merill Lynch, Pacific Life, Minnesota Mutual [Lawsuits] 2024 0418 – The Granddaddy of All Premium Finance Litigation, by Larry J. Rybka, Chairman and CEO at Valmark Financial Group – [link] Stephen C. Baker recently posted about a mega premium finance case…

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Low Cost 1980 – LC – Phoenix Mut. Life Ins. Co. v. INSURANCE DEPT 500 F. Supp. 2 (S.D.N.Y. 1980) Nevertheless, an insurable person today can generally buy permanent insurance at apparently lower cost than ever before. How has this been achieved? It has been accomplished by mercilessly squeezing profit margins, by assuming recent lapse…

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Premium Taxes The States feared the loss of large revenues received from taxation of the insurance business.1  (p221)’ 1948 – LR – Statutory Regulation of Life Insurance Investment, by W. Page Keeton, Yale – 21p  As you may know, Alabama has a $1.3 billion per year insurance business, resulting in $240 million of insurance premium…

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Premiums and Benefits – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# A As long as you pay the premium Back to top B Benefits Benefits – Actuarial Benefits – Consumer Representatives Benefits – Index Benefits – Industry Groups Benefits – NAIC / Regulators BGA – Benefit Generating Account BGF – Benefit Generating Function Black Box Back to top C Cost…

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Premium – Regulator – Universal Life Commissioner Hager of the Universal & Other Plans (A) Task Force stated that there appeared to be disclosure problems with universal life plans and that the identification of these items should be placed on the Actuarial Task Force agenda. Some of the items identified which should be disclosed: (2)…

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Premium – Consumer – Universal Life The agent said that Universal Life policy premiums would stay the same, but I came to realize that this is not true of our policies. …what bothers me is that I am afraid that this same misleading information may be the basis of my children’s and grandchildren’s … planning……

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