1996 - AP - “Universal Life Insurance Cash Values: An Empirical Examination.” Presented at the 1996 American Risk and. Insurance (ARIA) meeting, August, Philadelphia, ...
1996 - AP - Determinants of Universal Life Insurance Cash Values, by James M. Carson and Mark D. Forster -
1997 - JIR / NAIC - An Analysis of Life Insurance Illustrations: Regulatory Implications of the Disparity between Policy Yields Based on Illustrated Versus Actual Surrender Values, by James M. Carson and Mark D. Forster - 23p
2000 - AP - The Nature and Causes of Variation in Insurance Policy Yields: Whole Life and Universal Life, Journal of Insurance Issues, 2000, 23, 1, pp. 30–47, by James M. Carson and Mark D. Forster - 18p
1997 - JIR / NAIC - An Analysis of Life Insurance Illustrations: Regulatory Implications of the Disparity between Policy Yields Based on Illustrated Versus Actual Surrender Values, James M. Carson and Mark D. Forster - 23p
(p4) - While the Model Regulation calls for illustrations that do not mislead, the term "accurate illustration" according to Weber (1996), is a classic oxymoron--by definition, an illustration is unlikely to accurately depict future results--and thus could be misleading.
(p4) - If illustrations do not adequately convey the likely performance of the underlying contracts, various parties to the insurance transaction suffer:
insurers and insurance professionals who rely on illustrations in sales presentations may increase their exposure to liability,
policy owners who rely on illustrated values to achieve financial goals may fail to reach their goals and be forced to seek other means.
In addition, the insurance industry risks losing the confidence of insurance professionals, financial service professionals, and consumers.
Thus, if illustrations do not adequately convey the likelyperformance of life insurance contracts, then an alternative form of disclosure may better serve the interests of consumers, insurers, insurance regulators, and insurance professionals.
2000 - AP - The Nature and Causes of Variation in Insurance Policy Yields: Whole Life and Universal Life, Journal of Insurance Issues, 2000, 23, 1, pp. 30–47, by James M. Carson and Mark D. Forster - 18p
(p1/30) - The advent of new products naturally leads to the question of the relative performance of traditional products versus the “cutting edge” products of the day.
For example, universal life in the 1980s and variable life in the 1990s became the policies of choice (as opposed to whole life) for millions of insurance buyers.
(p2/31) - Whole life and universal life provide distinct packages of options, and such distinctions augur differences in expected policy performance.
(p12/41) - IMPLICATIONS OF THE STUDY
Many individuals remain unaware of the wide variation in life insurance policy performance (cost), both within and across policy type.
(17/46) - [WishList] - 1990 - LIMRA, Life Insurance Marketing Research Association - Universal Life Persistency: Premium Payment Patterns and Cash Value Experience