Government Hearings - Snippets - 1990s
- Why is this flimflammery allowed to continue?
- Where are the laws to prevent companies from misleading people?
-- Senator Metzenbaum (D-OH)
1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) - [BonkNote]
- Overwhelming numbers of Life Insurance buyers do not even understand which, if any, elements of their sales illustrations are guaranteed.
- For instance, as we demonstrated in our hearing, an Alexander Hamilton illustration did not make it clear that there was no guaranteed death benefit after 12 years. (p196)
-- Senator Howard Metzenbaum, letter to the NAIC
1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) - [BonkNote]