Words – Page 17 – [BonkNote]

Premium Pattern The agent and prospect have the ability to choose almost any pattern of benefits and premiums. No longer is the sale limited to one of several fixed plans of insurance from a ratebook. 1991-1992 – FINAL REPORT* OF THE TASK FORCE FOR RESEARCH ON LIFE INSURANCE SALES ILLUSTRATIONS – 142p, Society of Actuaries For another problem, consider…

Policy Changes 1975 0619 – NYT – With “Life-Cycle” Insurance Policies Coverage May Be Changed With Needs (Adjustable Life), by Leonard Sloane – [link-Paywall Free] Policy Changes Have any companies considered restricting policy changes because of increased administrative difficulties due to automation? Is the cost of policy changes out of proportion to their business value?…

Coverage Period Coverage Period – Examples As long as you pay the premium Key Attributes of Generic Life Insurance Policies — Table 4-2 Duration of coverage – Universal Life – Depends on premiums paid. (p111) 2015 – Book – Life Insurance, 15th Ed. (Huebner Series) – Black jr., Skipper, Black g. Clarifying “Coverage Period Description”…

Macroprudential versus Microprudential Regulation Common Exposures Contagion Liquidity modeling Mass lapses macroprudential surveillance Systemic amplifiers Triggers NAIC Liquidity Stress Testing (LST) Framework NAIC MACROPRUDENTIAL INITIATIVE (MPI) – [link] Macroprudential Task Force (MPTF) of the American Academy of Actuaries Common Exposures 269 For instance, in 1991 six major life insurers, each with over $4 billion in…

Interconnectedness MGIC, for instance, which Baldwin bought for $1.l7 billion, had $380 million in real estate and other assets which Baldwin sold to raise cash for the purchase. But instead of selling only to outsiders, Baldwin has sold some of its assets, including stock of its own operating companies, to its own insurance companies. ”Some…

Deregulation It is an exciting time in the financial services industry today. Banks want to sell insurance. Insurance companies want to sell securities. Sears Roebuck wants to sell everything. I will discuss the insurance activities of banks and bank holding companies — Charles Eggleston, not a member of the Society, is a Senior Manager at…

Mortality 1949 – SOA – Report of the Committee on Mortalitv Under Ordinar Insurance and Annuities, Society of Actuaries – 12p 1999 – SOA – Mortality Rates as a Function of Lapse Rates, Society of Actuaries – 16p California Legal Case – No Difference between Term and Perm

Insolvencies Failures In the early 1990s, there were a number of large insolvencies — Willis B. Howard Jr., NOLHGA – National Organization of Life and Health Insurance Guaranty Associations 1998 – SOA – Once in a Hundred Years, Society of Actuaries – 22p 1991 0427 – Los Angeles Times – State Allegedly Knew Executive Life Was…

Business of Insurance McCarran-Ferguson Business of Insurance Regulatory Reform Act Dodd-Frank Act Michael McRaith 2022 0908 – GOV (Senate) – Current Issues in Insurance – Brown LC – Pireno Liqudation of Insurance Company Relationship Between Company and Insureds Supreme Court 2010 – Book – Regulating the Business of Insurance in a Federal System, By Joseph F.…

Leverage Walker v Life Insurance Company of the Southwest 3. Leverage in the financial sector. The pandemic stressed the resilience of banks, but they remain well capitalized. Leverage at broker-dealers also remains low. In contrast, measures of leverage at life insurance companies are at post-2008 highs….. (p7) 2020 11 – FRB – Financial stability report…