Projected Interest Earnings Working Group – (A) – NAIC

1991-1A - NAIC Proceedings - p561
- ACLI - Section 1B and C - Tony Spano (American Council of Life Insurance) suggested amending the word "policy" in these two subsections to read "advertisement" since policies do not contain any advertised material. He said any references to "policy" in either of these two items would be inappropriate. The working group decided to add the following language after "policy" in both Subsections B and C "and all advertisements with respect to that policy."
- NALU - William N. Albus {National Association of Life Underwriters) suggested that in each instance where the words "interest," "interest rate" and "interest earnings" appear, the term "nonguaranteed policy elements" be substituted.
  - He said this would conform the bulletin language to the language of the NAIC Model Rules Governing the Advertising of Life Insurance.
  - After considerable discussion of the meaning of "nonguaranteed policy elements" in this bulletin, the working group decided not to accept this amendment.