Words – Page 17 – [BonkNote]

Surrender Values Development of Life Insurance Surrender Values its the United States, J. David Cummins, S.S. Huebner Foundation, for Insurance Education (p1177) – By Mr. MCGUIRE: A. I have parted with two or three life insurance policies. Q. Sell them for the amount of the loan, or at a discount? A. at the price the…

Orphaned Policyholders C. What methods are used for providing service to policyholders, particularly on orphaned business? 1966 – DIGEST OF REPORTS ON TOPICS OF CURRENT INTEREST AGENCY MATTERS, Society of Actuaries

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 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…

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 – REPORT OF THE COMMITTEE ON MORTALITY UNDER ORDINARY INSURANCES AND ANNUITIES, Society of Actuaries – 12p 1999 – Mortality Rates as a function of Lapse Rates – Society of Actuaries 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…