Words – Page 7 – [BonkNote]

Guaranteed Nonguaranteed GICS – Guaranteed Investment Contracts Guarantees Guaranteed Maturity Fund (GMF) Guaranteed Maturity Premium

Duration 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. – Black, Skipper, Black (Huebner Series) Duration is a measure that’s used to provide information to portfolio managers about the interest rate sensitivity of…

Interest Interest – Index (p9) – The literature attached to the conservation brochure read: “At Minnesota Mutual, we believe you should get an up-to-date return on your insurance dollars – no matter how long you’ve owned your policy. With Ultimate Interest™, our unique interest crediting method, we credit current, competitive interest rates to each premium…

Churning Replacements Twisting Churning will be high as comparisons of recent performance and illustrations will “prove” the necessity for a switching. — Dale R. Gustafson, Northwestern Mutual …asks why the really hard questions about the product aren’t reflected in the articles we printed. His nominees for the hard questions are: 1981 11 – SOA – The Actuary,…

Twisting Churning Replacements We have all heard some talk about twisting, and it has strong negative connotations. Universal Life, mainly because of its premium flexibility, has changed that. I recently heard one of our marketing people refer to replacement of old traditional permanent policies with Universal Life. He called it “The Enlightened Liberation of Assets”.…

Root Cause FSB As we began researching this problem, two questions became central. What criteria should we use to evaluate suggested changes and alternatives? What is the root cause of current problems, and why have previous corrective efforts been so unsuccessful? As research continued, at some point we started to focus on the uses of life…

Moratorium Moratorium Stay Contractual State Courts 1992 0428 / 0505 – GOV – Insurance Guaranty Funds and the Involuntary Transfer of Insurance Policies, aka Insurance Policy Transfers – Metzenbaum [Both Dates PDF-629p-GooglePlay, 0428-No Video / 0505-VIDEO-CSPAN- Insurance Policy Transfers]->Not on govinfo.gov Senate – Committee on the Judiciary – Subcommittee on Antitrust, Monopolies and Business Rights Metzenbaum, 0505 (1:41)…

Misconduct Widespread misconduct in the financial sector on a broad scale creates mistrust, weakening the ability of markets to allocate capital to the real economy. This in turn may give rise to systemic risks, which is why addressing misconduct is part of the Financial Stability Board’s (FSB) work programme. Recent instances of misconduct have included…

Bankassurance 21 There are various definitions of bankassurance. By focusing on production, a bankassurer can be defined as a financial group or conglomerate that includes both bank credit origination and insurance underwriting. But bankassurance can be limited to distribution agreements only in which a bank merely distributes third-party insurance products in a contractual agreement with…

Insurable Interest The notion of insurable interest dates back to the Middle Ages and it was English common law until the Life Assurance Act of 1774. In that Act the Parliament of Great Britain sought to prevent the abuse of life insurance and differentiate it from gambling or purely speculative behaviour. It specifically “prohibited the…