Words – [BonkNote]

Privacy (p71) – Edward J. Markey (D-MA) – And when you drop by your insurance agent a few days later to take out a new life insurance policy, will he, after a few clicks of the mouse on his computer, look over to you and ask, so, can you tell me what all those recent…

Wars Illustration Wars 1989 – SOA – Illustration Wars, Society of Actuaries – 14p 2023 0705 – BetterWealth – Expert Reviews Whole Life Insurance, IUL’s, and Annuities – [Bobby Samuelson] — [BonkNote] — [VIDEO-YouTube-01:14:13] 30 – Bobby Samuelson – Agnostic on Product. Product vs Illustration. Story – IUL Sales History, What is good IUL? Before, later….no rules for illustrating IUL.. Helped…

FlimFlam Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH) — [BonkNote] (p1) – …American consumers pay a bill without having more…

Grace Period 2013 0905 – LC – Johnston & Johnston v Conseco – 5th Circuit Court of Appeals – 13-30010 – Oral Argument – mp3 — [BonkNote] ULMR – Universal Life Insurance Model Regulation – MDL-585 – NAIC – Snippets

Reasonable Expectations 3. Heard a Federal Update on the Implications of the DOL Fiduciary Rule – Brooke Stringer (NAIC) Micah Hauptman (Consumer Federation of America—CFA) said there are gaps in the current regulatory framework. He said he does not believe consumers’ reasonable expectations are being met. He said the DOL should require a fiduciary duty, regardless…

Volatility Volatility – Walker v LSW I think you really have to make sure that people understand volatility, whether you solve for a policy blowing up or values being halved. I think you have to catch people’s attention, and that is all to the good. — George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC…

Life Insurance Buyer’s Guide – LIBG LIBG – VersionsLIBGWG – Life Insurance Buyer’s Guide Working Group – NAICLIOGGWG – Life Insurance Online Guide Working Group (A) – NAIC6 – LIBGBuyer’s Guide SubgroupLIBG – Comparison ChartNon-Guaranteed Elements Work Group – NGEWG – AAAShoppingPolicy PerformanceWhat’s the Problem / Goal?Life Cost Comparison Working Group – NAIC (p43) -…

Benchmarks Rodney C. Wilton: We cannot stop people trying to sell or design gold bricks. As actuaries, all we can do is make it so people have a better chance of knowing what they are buying. The simpler a product, the more chance the prospective policyholder has to know it is a gold brick. For…

Resolution Resolution Authority FSB 2011 – FSB – Key Attributes of Effective Resolution Regimes for Financial Institutions in the Insurance Sector FSB adopted the Key Attributes in 2011 VIDEO-Youtube – 10 Years of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions bis.org/fsi/fsisummaries/fsb_key_attributes.htm fsb.org/2014/10/key-attributes-of-effective-resolution-regimes-for-financial-institutions-2/ 2011 10 – FSB – Key Attributes of Effective…

Defective Defective – Lapse Prone – Walker v LSW Crown Life – D012 – defects 1994 0219 – Greensboro – Be Alert for Defects in Cash-Value Insurance, by Jane Bryant Quinn – [link] Crown Life, Jerry Keating, John Hancock