One Policy Fee - Walker v LSW

  • A I mean, it's five bucks a month, you know. No, I don't recall it.
  • Q So since it's only five bucks a month, why would the company be touting one policy fee? (p76-78)

2013 1211 – DOC 735-`2 : Deposition of Michael Tivilini- Walker v LSW – 215p

Howlett Illustration / Policy

DATA SECTION
FACE AMOUNT: $1602311
EFFECTIVE DATE: SEP. 26, 2007
PERCENT OF PREMIUM EXPENSE CHARGE : 6%
MONTHLY PERCENT OF ACCUMULATED VALUE CHARGE: O.O4%
MONTHLY EXPENSE CHARGE PER THOUSAND: $0.654

  • MONTHLY POLICY FEE: $5.00

Case 2:10-cv-09198-JVS -RNB Document 65-4 Filed 06/06/11 Page 10 of 62 Page ID #:1660
Case 3:10-cv-048  Document 20-2 Filed'11 /1!:: ) Page 10 of 62

Joyce Walker, et al. V. Life Insurance Company of the Southwest CV 10-9198-JVS (RNBx) Exhibit 935.0008

(p109-110) - Howlett / One Fee

  • A The July 27th illustration says it's one policy fee. The illustration only shows the monthly administrative charge, and therefore I thought that was the only fees associated with the policy. They would be in that monthly administrative charge. 
  • Q And the monthly administrative charge that you are referring to is on page 18 of 21 of Exhibit 30, the illustration; correct?

2014 0416 – DOC 809 – Trial Transcript – Walker v LSW – 236p

(p221) - Walker / One Fee

  •  What was your understanding about the cost of this policy from the illustration?
  • A I understood from the illustration that the cost was one policy fee of, in my case, $1,072.17 per month for the first ten years, and then going down to $429.29 per month starting in policy year 11.  

2014 0416 – DOC 809 – Trial Transcript – Walker v LSW – 236p

In terms of the one fee -- it's something like one policy, one fee, one insurance company -- it's a tag line. 

  • It appears in the first two pages that are stapled to the  illustration.
  • This refers, Your Honor, to the costs but also the premiums that are paid for the policy.
  • There is nothing misleading whatsoever about that language, and there certainly isn't anything misleading about it with respect to  plaintiffs' allegation, and, that is, that it somehow concealed the costs. 
  • The costs are fully disclosed in both the illustration and the policy.
  • The statute requires that the be so-called embedded...

(DOC 815, p29)