Questions
Q: What Does That Mean?
What Does That Mean? COP – 1st Hearing – Twin Peaks, Reputational Risk, Who? Rep. <Michael> Goschka: I will remember various speeches given by ……..—and Nelson Saunders—when he was here (laughter). (p18) Rep. <Mary Lou> Parks: When the Representative mentioned Nelson Saunders, I said yes, when he was here he was a bad dude. (p19)…
Read MoreQuestions – NAIC
Questions – NAIC 2013 – NAIC – State of the Life Insurance Industry: Implications of Industry Trends – 220p Additionally, the insurer usually guarantees the cash value will not fall below a minimum value. Transcript of NAIC Webex Conference Calls like the SEC? https://www.sec.gov/files/amac-071620-transcript.pdf Why is there a JP Morgan Copyright on NAIC materials? Who is/are the Life…
Read MoreQ: Is the Insurance Industry Exposed to Systemic Risk?
Is the Insurance Industry Exposed to Systemic Risk? Systemic risk afflicts all life insurance and investment firms around the world. 2009 – AIG: Is the Risk Systemic?, 26 Feb 2009 – Report – 21p <YES> The insurance industry is exposed to systemic risk. The viability of the insurance sector rests on the perception that insurers can and…
Read MoreQ: Why didn’t the ACLI and NALU show up?
Q: Why didn’t the ACLI / NALU / NAIFA Show Up? We invited some members of the Advisory Committee to testify today, too. We asked the National Association of Life Underwriters <NALU – Currently NAIFA> representing over 140,000 life insurance agents to send the chairman of its Illustration Task Force. We invited the American Society…
Read MoreQ: Who created Universal Life Insurance?
Who Created Universal Life Insurance? One Question: Who would you say created Universal Life Insurance? George R. Dinney Maurice H. Lavita Professor Mehr other soa guy WHO CONCEIVED THIS INSTRUMENT? Subject to responsibility being accepted (and documented) by somebody else, we hold that the father is George R. Dinney, and the place of conception Winnipeg,…
Read MoreQ: Why is Universal Life Insurance sometimes called Whole or Permanent?
Starters – Why is Universal Life Insurance sometimes called Whole or Permanent? Universal Life Insurance Model Regulation Universal Life as Adjustable Life (Walter Chapin’s Version) Company Taxation – 818(c) That is definitely an important consideration. Many companies are selling these plans <Universal Life> side by side with permanent insurance plans. — MR. SIBIGTROTH 1979 – FUTURE TRENDS…
Read MoreQ: Universal Life – Who wanted this?
Q: Universal Life – Who wanted this? In more modern times, insurance products became considerably more complex (e.g., universal life type products with various forms of guarantees, various forms of renewable term, etc.). These products arose from a significant rise in interest rates in the early 1980’s and a wave of consumer demand for products…
Read MoreQ: What’s the Problem That We Are Trying to Solve?
Q: What’s the Problem That We Are Trying To Solve? *Robert E. Wilcox: What’s the real problem then, Shane? Shane Chalke: I’ll say before I answer that I don’t have a good answer. 1995 – SOA – Current Developments Surrounding Regulations and Standards of Life and Annuity Products, Society of Actuaries – 18p ⇒ *Robert…
Read MoreQ: Is it Accurate to Call Universal Life a Whole Life Policy…..Maybe Not….
Q: Is it Accurate to Call Universal Life a Whole Life Policy? Maybe…Maybe Not…. Who refers to Universal Life as Whole? As long as you pay the premium Permanent insurance is a term used only by the industry – not by consumer educators. We would prefer – Life insurance comes in two basic types: Term…
Read MoreQ: How Can Universal Life Insurance Be Classified? Permanent / Whole / Term / Other
Q: How Can Universal Life be Classified? Permanent / Whole / Cash Value / Term / Other Why is Universal Life called Permanent or Whole Life? Maybe Universal Life Shouldn’t be Called Permanent or Whole Life How Else Could Universal Life Be Explained? NAIC Drafting Note: Although highly flexible, Universal Life insurance is generally considered…
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