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  • acli" "inaccurate" "irresponsible" - New York Insurance Commissioner - re: Actuarial Guideline 38 (AG 38)
  • 1988 0927 - GOV (House) - Certain Aspects of Life Insurance Taxation
    • ⇒  [PDF-233p-GooglePlay
  • (p64) - Standard and Poor’s study of municipal bond defaults in the 1990s, bonds for the three major types of conduit bond issue
    • https://www.sec.gov/rules/final/2013/34-70462.pdf
    • [Corrected to conform to Federal Register version]
      SECURITIES AND EXCHANGE COMMISSION
      17 CFR Parts 200, 240 and 249
      [Release No. 34-70462; File No. S7-45-10]
      RIN 3235-AK86
      Registration of Municipal Advisors
      AGENCY: Securities and Exchange Commission.
      ACTION: Final Rule.
      SUMMARY: Section 975 of Title IX of the Dodd-Frank Wall Street Reform and Consumer
  • Mr. DeAngelo responded that the New Jersey Unfair Trade Practices Act on false advertising is only one paragraph long and the department has been criticized for not telling the industry in its regulations what is false and misleading, for example.
    • [Bonk: Find - No other regulators spoke in support of the ACLI suggestion, so it will not be included in the next draft.
  • Mr. DeAngelo said there had been a suggestion that Section 2A(1)(c) be revised.
    • He said if materials for agents are misleading or incomplete, then agents may in turn mislead the public.
    • He asked if regulators were interested in deleting the language that says "which is designed to be used or is used to induce the public… ."
  • Mr. Hanson said he would like to see all training materials included and Mr. Burch said he was also in favor of deleting the language.
  • Mr. DeAngelo said he did not recall seeing incorrect or misleading training materials, so this is somewhat a theoretical question.
  • Mr. Hanson responded that he had seen misleading materials in market conduct examinations.
  • Diana Marchesi (Transamerica) said this language would then be broad enough to include material designed to inspire agents to sell more for the company.
    • All of the information in the regulation would then need to be included in that inspirational brochure.
  • Mr. DeAngelo asked if there is a middle ground, such as requiring the regulation to apply to material that describes to the producer the features, advantages or disadvantages of an insurance product.
    • The regulators agreed that was an appropriate compromise.
  • What the regulators really want to say is that the agent training materials should not be misleading or incomplete.
  • Mr. Burch said that he has been convinced that the requirement for agent training materials should be deleted and the rest of the regulators agreed.

1999-4, NAIC Proc. - Unfair Trade Practices 

 AAA presentation: Introduction to Principles –Based Approach to life reserves and capital – September 2009

Disclosure and Concealment in Consumer Insurance Contracts
By Julie-Ann Tarr · 2013

https://www.soa.org/globalassets/assets/library/newsletters/risks-and-rewards/2003/february/rrn0302.pdf

  • Currently, the subgroup is in the process of developing several research proposals addressing modeling
    of surrenders, lapses and withdrawal behavior of policyholders in extreme scenarios for several products,
    including variable annuities, universal life insurance
    and long term care

Markup of FY18 Budget Views and Estimates | Financial ...https://financialservices.house.gov › eventsingle
Feb 28, 2017 — A motion to authorize the release of excerpts, with certain redactions, of the transcript of the deposition of Patrick Pinschmidt

ACLI

Sets, Probability and Statistics: The Mathematics of Life Insurance. [Computer Program.] Second Edition.
King, James M.; And Others
The materials described here represent the conversion of a highly popular student workbook "Sets, Probability and Statistics: The Mathematics of Life Insurance" into a computer program. The program is designed to familiarize students with the concepts of sets, probability, and statistics, and to provide practice using real life examples. It also attempts to illustrate how the insurance business uses such mathematical concepts to carry out everyday business activities. The program was developed to be used in basic and advanced high school mathematics classes. The eight lessons contain activities involving: (1) sets; (2) sample spaces; (3) probability; (4) statistics; (5) mortality tables and life insurance; (6) interest; (7) figuring the insurance premium; and (8) information about the annual premium. The entire package includes a teacher's guide, four computer disks, an answer key, and a copy of the student workbook. (TW)
Descriptors: Computer Assisted Instruction, Computer Uses in Education, Courseware, Death, Insurance, Mathematical Concepts, Mathematical Enrichment, Mathematics Education, Mathematics Instruction, Mathematics Tests, Probability, Secondary Education, Secondary School Mathematics, Set Theory, Statistics
American Council of Life Insurance, Company Services, 1002 Pennsylvania Avenue, NW, Washington, DC 20004-2599 ($50.00; order #C48).

JSTOR

  • The Product Performance of the Life Insurance Industry: Revisited - Mark S. Dorfman
    The Journal of Risk and Insurance
    Vol. 38, No. 4 (Dec., 1971), pp. 613-626
    Published by: American Risk and Insurance Association
    DOI: 10.2307/251574
    Stable URL: http://www.jstor.org/stable/251574
    Page Count: 14
  • Workable Product Competition in the Life Insurance Market - Mark S. Dorfman
    The Journal of Risk and Insurance
    Vol. 39, No. 4 (Dec., 1972), pp. 613-625 (13 pages)
  • 1979 - AP - The Effects of Risk Reduction Inherent in Universal Life Insurance
  • 1979 - AP - The Effects of Risk Reduction in Universal Life Insurance, Part II, William C. Scheel
    The Journal of Risk and Insurance
    Vol. 46, No. 3 (Sep., 1979), pp. 451-482 (32 pages)
  • Tax Arbitrage and Life Insurance: A Tax Policy Critique of Section 264, Todd Krieg The Tax Lawyer Vol. 42, No. 3 (Spring 1989), pp. 747-771 (25 pages) Published By: American Bar Association
     
  • The Relationship between Benefits and Premiums in Life Insurance
    Joseph M. Belth
    The Journal of Risk and Insurance
    The Journal of Risk and Insurance
    Vol. 36, No. 1 (Mar., 1969), pp. 19-39 (21 pages

    • https://www.jstor.org/stable/251137

NAIC

1982-2 NAIC Proc. 352
In addition, the American Council of Life Insurance (ACLI) has recently furnished the group with a draft position paper entitled "Suggested Valuation and Nonforfeiture Standards for Certain Life Insurance Plans with Adjustable Features."

expressed agreement with Doug Paine's paper on retrospective development of cash values and expressed concern about possible misrepresentation of mortality rates.
It was noted that the California draft bulletin dealt with misrepresentation.
For flexible-premium adjustable-interest-credit policies, commonly called universal life, the paper concluded that the Standard Laws do not directly address these policies, except that the 1980 Laws contain a provision for policies not directly addressed by the other provisions of those laws. The paper then suggested temporary valuation and nonforfeiture standards for universal life policie 

 

1983-2 NAIC Proc. 614
Mr. Jackson distributed copies of the article "A Regulator's View of Universal Life," by John 0. Montgomery, F.S.A., M.A.A.A., and also a working draft of the Universal Life Insurance Model Regulation, which contained Definitions, Valuation and Non-Forfeiture sections (Attachment Two-A1). Ms. McGrath distributed the New York "Guidelines for Submission and Approval of 'Universal Life' and Other Life Policies" published March 16, 1983.

Dear Pete:
********
ATTACHMENT FIVE-C
State of Illinois
Department of Insurance

August 12, 1986
Dear Pete, As you may recall, you assigned Illinois to take a look at the rules governing the advertising of life insurance. Attached is our  efforts along this line.

3. Specific definitions, prohibitions and disclosure requirements to address marketing issues unique to universal life products;

1987-1, NAIC Proceedings

SOA