Mary Mealer
- Missouri
- Chair - Product Standards Committee (PSC), Insurance Compact
- Chair - NAIC Life Insurance Buyer's Guide Subgroup
- Chair - NAIC Life Insurance Online Guide (A) Working Group
- Member - Life Insurance Illustration Issues (A) Working Group
- I feel like this is like the Groundhogs Day Movie all over again almost every call.
- We keep rehashing these issues.
-- Mary Mealer
2019 0903 - NAIC LIIIWG (Life Insurance Illustrations Working Group) - <Bonk>
- American Academy of Actuaries - "Because NGEs are likely to change, the ongoing performance of products with NGEs should be reviewed periodically after purchase to assess the impact of any NGE changes and consider actions that policyholders may wish to take (e.g., adjust premium payments or death benefits)."
- Brenda Cude (Consumer Representative / University of Georgia) said the issue of NGEs is interesting, but not something the average consumer would understand.
- She did not think it was information that was appropriate for a short guide for first-time purchasers.
- Mary Mealer (Missouri Insurance Department) - ...also agreed that this was an important topic probably best addressed in the online tool.
- [Bonk: NGEs = Non-Guaranteed Elements
2017 1106 - LIBGWG - Life Insurance Buyer's Guide Working Group - NAIC Conference Call - Proceedings
- 2018 1218 - Insurance Compact - Insurance Compact Product Standards Committee, Member Call Summary - 4p
- Th PSC reviewed the ACLI comments under Benefit Provisions in §3A (1) and agreed it would add clarity to include requirements for adjustable life and whole life separately: