SandBox

SB-Video clips – todo – Congress 199x-GOV – Executive Life Pacific Life Executive Life beat us out of Pacific Lumber Contract Disclosure – Should be written by people who understand the material lobbying in California – Junk Bonds NOT LIFE Insurance 072418 — Full Committee Markup – Homelessness / jobs Maxine Waters (1:19) Sean Duffy…

LTTR – 2021 “The “unbundling” of services and other product differences between Universal Life and Ordinary Life cause current literature to be inapplicable, as well as insufficient, for Universal Life.” 1984 – American Academy of Actuaries – Journal ACLI They <Universal Life Policy> merely afford purchasers greater flexibility in designing their contracts so as to meet their individual needs. 1982-1 STATEMENT…

Coverage Period Coverage Period – Examples As long as you pay the premium g. Clarifying “Coverage Period Description” The Working Group discussed what information is intended to be included. Mr. Yanacheak said this is intended to capture how long a policy’s term is—a term of years or for life. Mr. Birnbaum said it is intended…

SB – Explain Agents NAIC LIBG Mass Mutual Van Mueller – China Video – SOA – 1974 – Albert Easton (NG) Elements / Policy Mechanics / Responsibility NAIC LIBG IULWG – Guy GOV 197x-Cash Flow Elements SOA 198x – Turner – can be anything walter miller – you’re kidding yourselves Language NAIC LIBG 2013 state…

NAIC – Framework NAIC – Groups – Life Insurance A Committee “Market Conduct Surveillance” – 75r MARKET CONDUCT, EXAMINATION AND REPORTING (B) COMMITTEE Market Conduct and Trade Practices (B1) Subcommittee This Subcommittee is responsible for (a) overseeing the NAIC complaint system … 1980-2 Agents and Brokers (B2) Subcommittee. Competition (B 3) Subcommittee (B3) Subcommittee Competition…

Black Swans Nassim Taleb (p60) – David Schweikert – (R-AZ) – Are we going to wake up tomorrow and find out that the shadow on the horizon, the black swan was something that because of the concentration of the way you look at the world you completely miss? 2015 1208 – GOV (House) – Oversight of…

Mergers and Acquisitions My question revolves around the notion that it seems as if we talk about the life insurance company as acquiring other services which it will offer in some basket of services. But when we talk about the financial services industry and the life insurance business, the reality is that the other financial…

Games, Gimmicks and Tricks Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? (p3) — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) — [BonkNote] It is my recollection and understanding that AG 49 was created in…

Worldview – Sandbox https://www.mymoney.gov/researcher/Lists/Researchers/AllItems.aspx These products <Universal Life Insurance> arose from a significant rise in interest rates in the early 1980’s and a wave of consumer demand for products better meeting their needs. <p37> 2020, August – Financial Sector Assessment Program-Technical Note-Insurance Supervision and Regulation, by International Monetary Fund. Monetary and Capital Markets Department https://www.imf.org/en/Publications/CR/Issues/2020/08/07/United-States-Financial-Sector-Assessment-Program-Technical-Note-Insurance-Supervision-and-49653 MR…

Turning Points The working group next reviewed Appendix D to the Life Insurance Disclosure Model Regulation, which contained policy information for a universal life policy or indeterminate premium policy. The working group agreed that, since most of this information was directly based on non-guaranteed elements, it would be appropriate to delete the entire appendix. 1996-1…

SB-Congress Video clips – todo

LTTR – 2021

Coverage Period

SB – Explain

NAIC – Framework

Black Swans

Mergers and Acquisitions

Games, Gimmicks and Tricks

Worldview – SB

Turning Points