Regulatory

Policy Information for Applicant – Universal Life – NAIC Focus Groups 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary, — [BonkNote] — 10p 1993 – NAIC – Policy Information for Applicant – Universal Life Policy – 3p Life Insurance Disclosure Model Regulation – Appendix D Located in: 1993 0525 – GOV (Senate)…

Fiduciary Advice Incidental Advice DOL – Fiduciary Rule – Department of Labor Fiduciary Duty Relationship (p54) – 1:34-1:41 – Eric DINALLO, Superintendent, New York State Insurance Department – Well, I think it’s important for everyone to know there’s a very strong tension between policyholders’ interest and shareholders’ interest in a publicly traded company. The board and management…

GENERALLY RECOGNIZED EXPENSE TABLE (GRET) 1998 – GENERALLY RECOGNIZED EXPENSE TABLE FOR 1998 ILLUSTRATIONS. SOCIETY OF ACTUARIES COMMITTEE ON LIFE INSURANCE RESEARCH. REPORT TO THE NAIC LIFE DISCLOSURE WORKING GROUP, Society of Actuaries – 8p 1996-2 Generally Recognized Expense Table 716 Adopted 695 2000-3 Society of Actuaries Committee on Life Insurance Research Report to the…

Plan of Insurance “Plan of Insurance” vs Specific Policy [Plan of Insurance] 2019 0903 – 2019-3, NAIC Life Insurance Illustration Issues (A) Working Group (LIIIWG) – Conference Call Michael Lovendusky, ACLI … said assisting consumers to compare products is outside the scope of the Working Group’s charge, and it would limit innovation and harm consumers.…

Marketing …a great deal of our problem is caused because the people out there marketing our life insurance products are trying to market it against and like mutual funds. Until we start to market it as life insurance and describe it and teach the consumers about life insurance, they’re not in any position to make…

Solvency Failures Insolvent Insolvencies Surplus Notes Solidity (Solvency) During the early 1990s, however, the solvency problems of the life insurance industry increased, climaxing in the failure in 1991 of several large insurers– Executive Life Insurance Company, First Capital Life Insurance Company (EF Hutton) Fidelity Bankers Life Insurance Company, Monarch Life Insurance Company, and Mutual Benefit…

Regulation 187 Regulation 187 “Best Interest” Suitability – dfs.ny.gov/docs/insurance/r_finala/2018/rf187a1txt.pdf 2021 – LC – INDEPENDENT INSURANCE AGENTS AND BROKERS OF NEW YORK, INC., vs. NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES – OPINION AND ORDER – 7p – 530047 OPINION AND ORDER – 7p Appeal from a judgment of the Supreme Court (Zwack, J.), entered August 7, 2020 in…

Suitability There should be suitability rules in place, particularly for cash value life insurance policies to assure that sales of proper products are made. (p14) — J. Robert Hunter 2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection – [PDF-123p, VIDEO-?] 2000 – NAIC – Suitability of sales of life insurance and…

NCOIL – National Council of Insurance Legislators NCOIL.org ncoil.org/insurance-legislators-foundation-ilf-board/ NCOIL Life Insurance Consumer Disclosure Model NCOIL – NAIC Dialogue Committee Sen. Hackett (R-OH) – stated that one of the problems that the life insurance industry has been experiencing for several years is that when universal life was sold years ago interest rates were so much…

Securities Regulation NASAA / NAIC Joint Committee Fundamentals of Securities Regulation – Book

Policy Information for Applicant – Universal Life Policy – NAIC

Fiduciary

GRET – Generally Recognized Expense Table

Plan of Insurance

Marketing

Solvency

Regulation 187

Suitability

NCOIL – The National Council of Insurance Legislators

Securities Regulation