Questions - NAIC

  • 2013 - NAIC - State of the Life Insurance Industry: Implications of Industry Trends - 220p
    • Additionally, the insurer usually guarantees the cash value will not fall below a minimum value.
  • Transcript of NAIC Webex Conference Calls like the SEC?
  • Why is there a JP Morgan Copyright on NAIC materials?
  • Who is/are the Life Insurance experts at NAIC / States?
  • LIBG
    • Who came up with using "Cash Value" for Universal Life Insurance? - 1996
    • Charges to Premium, wording change - 1996

<Question:  Why wasn't the 198x Life Insurance Buyer's Guide adopted by States?>

  1. <Question>: - Is the "guaranteed gross premium" in the NAIC Valuation Manual the same/similar/different than the "Guaranteed Maturity Premium" in the NAIC Universal Life Model Regulation?

  2. <Question>:  Ad Hoc Group?:>

    • Who were the participants of the Ad Hoc Group?
    • Were there any other ideas besides a 1-2 page "Policy Overview"
    • What information and who from in determining how Agents and Consumers use Policy and Narrative Summaries?

      6-20 NAIC Proceedings – Fall 2016, Life Insurance Illustration Issues (A) Working Group\

  3. <Question>:  Whatever happened to doing consumer testing, what they need, before, and after creating model reg, docs? NAIC Proceedings – Spring 2016 6-9

<Question: What terminology did he think was "sloppy?">

  • Commissioner Wilcox said that he admitted that the working group had gotten a little sloppy on its terminology, but it had been clear all along that the working group was focusing on sales.

1996-4, NAIC Proceeding

<Question:  Why wasn't the Policy Information for Applicant - Universal Life adopted by States?>

To date, no state has adopted these forms.

Why this complete lack of action after all the effort in developing the forms?

  • One possible reason is that, during the early part of the year, state insurance departments are generally busy dealing with the  legislatures, which customarily are in session then.
  • Also, it takes a few months for new NAIC regulations to be officially published, distributed, and adapted for individual state use.
  • Many states also have been occupied with more urgent concerns, such as automobile and health insurance rates and solvency questions.

--  Tony Spano (ACLI)

1990 - QUALITY OF LIFE INSURANCE SALES ILLUSTRATIONS, Society of Actuaries - [PDF-16p]