Words – Page 14 – [BonkNote]

Life Insurance as an Investment Birny Birnbaum (Center for Economic Justice—CEJ) said… the current structure of the illustration presents the IUL policy as an investment. 6-836 2019-1, NAIC Proceedings The term “investment-life-insurance policy” is used here to represent policies that have a large “cash-surrender value” throughout most of the period they cover, such as limited-payment…

Persistency 1981 – SOA – Patterns in Persistency, Society of Actuaries – 18p 1995 12 – SOA – 1994-1995 Year in Review, The Actuary, Society of Actuaries – 6p SOA Research and the Life Insurance Marketing and Research Association (LIMRA) completed a report on universal life persistency results that have never before been published on an…

Realistic Assumptions Summing up, it seems to me that reasonable assumptions for annual premium policies must recognize the long-term commitments in question, and thus should consist of a realistic current mortality table with projection into future years, together with an interest rate not higher than 3% and preferably somewhat lower. — Wilmer A. Jenkins 1961…

DIY – Do It Yourself 28 Oct 1981, Wed Journal and Courier (Lafayette, Indiana) Newspapers.com The insurance function also saw slightly more DIY products, giving households greater control. These new products included universal- and variable-life plans. 2010 – AP – A Brief Postwar History of US Consumer Finance, Harvard Business School – 53p Universal Life…

Yardstick Ernest J. MOORHEAD. I guess I would , I hope you’ll not think this is with tongue in cheek, express my happiness at Mr. Matz’s remarks about the yardsticks. When I went before the ACLI committee, of which he was then chairman the adjective applied to the yardstick idea was ludicrous. I’m pleased that…

SAP – Statutory Accounting Principles SAP, SSAP 1987 – SOA – Valuation Actuary Handbook – Chapter I – Insurance Company Statutory Valuation, Society of Actuaries – 34p The NYDFS recognizes only statutory accounting practices (“SAP”) prescribed or permitted by the State of New York for determining and reporting the financial condition and results of operations…

Distribution The unbundling of manufacturing and distribution: The modern life insurance industry started with bundled manufacturing and distribution, the latter being characterized by controlled, exclusively aligned career sales forces. We then witnessed three sequential shifts: The disenfranchisement of the industry’s career sales forces Re-aggregation of individuals previously comprising those sales forces into stand-alone marketing entities…

Nonbank Financial Conglomerate Nonbank Banks Nonbank Financial Companies sechistorical.org/museum/galleries/mec/mec05b_modernization_nonbank.php According to the Dodd-Frank Act, nonbank financial companies are domestic companies or foreign companies that predominantly are engaged in financial activities (such as insurance companies, consumer finance providers, commercial lenders, asset managers, and investment funds) but that are not bank holding companies or certain other types…

Mass Lapse 2016 – IAIS – Risk-based Global Insurance Capital Standard Version 1.0 Disintermediation Run – Triggers Legal Case – Fairbanks v Farmers Survey – 50% Unfortunately, some offices issued these contracts with a cash value of something approaching the total single premium guaranteed at any time. Interest rates rose, competitors offered better terms, and…

Surrender Cash Surrender Values Lapse vs Surrender Surrender Values 2013 – AP – An Empirical Analysis of Life Insurance Policy Surrender Activity, by David T. Russell, Stephen G. Fier, James M. Carson, and Randy E. Dumm – 23p 1877 0723 – New York Senate – Testimony Taken Before the Senate Committee on Charges Against De…