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sb-policy-performance-variability-Non-guaranteed Elements – Universal Life Universal Life Descriptions Policy Performance Variability / Volatility Nonguaranteed Elements (NGE’s) / Nonguaranteed Policy Elements Illustrations Disclosure Life Insurance Buyer’s Guide Sales / Buying Process Market Conduct Premium Lapse Academics ACLI Actuarial Government Law NAIC Mr. Wicka said the paper advocates for: … additional information to be provided to consumers…

Short Lists http://www.bonknote.com/draft-short-list/ Policies Adjustable Life – bonknote.com/adjustable-life/ Walter L Chapin – Minnesota Mutual 1976 – Toward Adjustable Individual Life Products, Walter L. Chapin, Society of Actuaries – 50p This leads to the second attitude adjustment that is needed. The old distinction between term and permanent is usually not appropriate for an adjustable life policy. In…

425-letter-2 Also, because most people presume that if you pay your premium continuously, your policy will remain in effect, quite a few people had a hard time understanding how or why the policy would terminate in policy year 31. This was simply foreign to their way of thinking. 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal…

SB – Letters – 421 But nowhere has there been a serious, full dress attempt to re-define the modern American insurance transaction as a sui generis <Unique> matter. Perhaps the job is too big, or too dull.” 1950 – THE SPECIAL NATURE OF THE INSURANCE CONTRACT: A FEW SUGGESTIONS FOR FURTHER STUDY, FRANKLIN M. SCHULTZ,…

NOW THEN https://www.bonknote.com/wp-content/uploads/30-Saylers-v-MetLife-how-does-this-whole-system-work-agency.mp4 Saylers-v-MetLife So, how does this whole system work? Industry Reputation Market Conduct/ Complaints/ Lawsuits Product Performance- Universal Life Consumer Accountability Disclosure Sales Process Plan of Insurance Interest Variability Premium Coverage Period- Universal Life Premium – Universal Life Benefits – Universal Life Compare Contrast: Pricing – Life Insurance vs Car Insurance Non-guaranteed Elements…

or As a result of the declining interest rates during the first ten years, the amount accumulated in the deposit fund after ten years is less than anticipated when the contract was issued, and less than necessary to keep the contract in force for the long term if the original “target premium” assumptions were continued.…

Connections The reader might assume that the subject of life insurance is neither very controversial nor interesting. Such a conclusion would be in great error. 1982 – Introduction to Life Insurance – Mark Dorfman, Academic Textbook Interestingness requires the proper connections and interactions among diverse parts. The Hidden Factor: Why Thinking Differently Is Your Greatest Asset…

4 – NAIFA / NALU 2015 2015-2 3. Discussed Senior Investment Protection Gary Sanders and Steve Kline (National Association of Insurance and Financial Advisors—NAIFA) provided a presentation on senior investor protection. Mr. Sanders explained that NAIFA is working on an educational program to help its members “navigate the waters” of retirement investment in order to…

Informed Consumer (p33) – Informed consumers are the cornerstone of effective consumer protection. This is particularly true in relation to life insurance with its proliferation of complex products over the past decade. — NAIC – Statement of David Lyons, Iowa Insurance Commissioner (IA), On Behalf of the National Association of Insurance Commissioners 1993 0525 -…

Policy Overview Ideas 1976 – AP – Implementation of Full Disclosure of Policy Value in the Life Insurance Contract Per 1000 Bernacchi – 17p Life Insurance Disclosure Model Regulation – January 1993 – Appendix D Policy Information for Application -Universal Life ACLI – IAA joint reportaugfinal 31-32 Policy Overview_Page_1 ACLI – IAA joint reportaugfinal 31-32…

SB-Policy Performance, Variability, UL Description

Short Lists

425-letter-2

SB – Letters – 421

NOWTHEN

Or-sb

Connections

4-NAIFA

Informed Consumer

Policy Overview – Examples