Questions
Q: How Does This Whole System Work?
Q: How Does This Whole System Work? We believe it is very important for the subcommittee, and other committees in Congress with jurisdiction over insurance, to have a sound understanding of how our industry operates… (p26) — Statement of Gary E. Hughes, Executive Vice President & General Counsel, American Council of Life Insurers (ACLI) 2011…
Read MoreQ: What Happened to Universal Life Policies Sold in the 1980s and 1990s?
Q: What Happened to Universal Life Policies Sold in the 1980s and 1990s? Social Media LIFE180 – Chris Naugle Lawsuits MDL – LC – Multidistrict Litigation – Legal Cases 2013 0225 – InvestmentExecutive.com – Appeal court restores allegations in proposed Sun Life class action, by James Langton – [link] The proposed suit concerns the sale…
Read MoreQ: Does It Matter If The Policy Lapses? – LIRP – Life Insurance Retirement Plan
Q: Does It Matter If The Policy Lapses? – LIRPs Sean Covi TransAmerica 2023 0927 – Premier Marketing – Transamerica: IUL Products and Illustrations – [VIDEO-YouTube-01:01:03] Jeremiah Tacker, Regional Vice President with Transamerica 9 – Not sold for Death Benefits, if you want life insurance for Death Benefit buy Whole, Term. Bought for Cash Value…
Read MoreCopy of Q: How Can Universal Life Insurance Be Classified? Permanent / Whole / Term / Other
Q: How Can Universal Life be Classified? Permanent / Whole / Cash Value / Term / Other Q: Why is Universal Life called Permanent or Whole Life? Maybe Universal Life Shouldn’t be Called Permanent or Whole Life Q: How Else Could Universal Life Be Explained? NAIC Drafting Note: Although highly flexible, Universal Life insurance is…
Read MoreQ: Fraud or Clueless
Q: Fraud or Clueless Question: … How do you account for the fact that hundreds went to jail in the previous banking scandal in the ’80s and no one has gone to jail here? Sheila Bair: I don’t know. I think it’s a combination of things. I think the line between fraud and just cluelessness…
Read MoreQ: Will the World Collapse if…
Q: Will the World Collapse if… 1988 – SOA – Actuarial Opinion on Non-Guaranteed Elements, Society of Actuaries – 12p Larry R. Robinson,Chairman of the ACLI Subcommittee on Cost Disclosure The article is entitled “Future Shock” by Harry Lew with the sub-heading: – <WishList> “What will happen when a generation of insurance buyers begins comparing unrealistic illustrations with…
Read MoreQ: How are Life Insurance Policies Sold?
Q: How are Life Insurance Policies Sold? Q: Are Life Insurance Policies Being Sold For a Death Benefit or an Investment Vehicle? LIRP/ SLIRP – Life Insurance Retirement Plan Walker v LSW Target Premium, etc. IUL – NAIC Group
Read MoreQ: Should A Life Insurance Policy Be Split? – SIV/CIV
Q: Should A Life Insurance Policy Be Split? – SIV/CIV High early cash value policies, “premium endowments,” and other policies which overemphasize the cash-value buildup have been around for years. Recently, however, some state insurance departments have been taking a closer look at these policies. At least one state has gone so far as to…
Read MoreQ: Who Can Explain How Life Insurance Policies Work?
Q: Who Can Explain How Life Insurance Policies Work? The insider joke about indexed universal-life policies is that it takes an actuary, an attorney and maybe even an engineer to understand how the product works. Some regulators worry that hypothetical projections of savings growth using these indexes are overly rosy and can lead to unrealistic…
Read MoreQ: What is the NAIC? Trade Group or Standard-Setter?
Q: What is the NAIC? Trade Group or Standard-Setter? 2011 1219 – ThinkAdvisor – Is the NAIC a Trade Group or Official Standard-Setter?, By Elizabeth Festa & Arthur D. Postal – [link] The National Association of Insurance Commissioners Tuesday plans to announce an initiative to brand itself as a “standard-setting organization” rather than a trade group–a…
Read More