Sheryl Moore

  • Sheryl Moore (Moore Market Intelligence) said she is concerned that some companies are increasing their insurance charges to subsidize their option budget.
    • She said she is also concerned that the practice of playing “bait-and-switch” with renewal rates is becoming more common among universal life products.

2014-3, NAIC Proceedings - Moore Market Intelligence Letter (9-28-14) ................ 6-345

  • 2014-1, NAIC Proc. - Mike Boerner, Chair of Life Actuarial Task Force, Texas Department of Insurance
  • 2014 0928 - Letter - Sheryl J. Moore to NAIC (LATF) - Moore Market Intelligence - RE: Actuarial Guideline on Illustrations for Indexed Life Insurance Policies - [link]
  • 2014-3, NAIC Proceedings - Moore Market Intelligence Letter (9-28-14) ................ 6-345
  • 2019 0312 - IULSG - IUL Illustration Subgroup - (A) - NAIC  ---  [BonkNote]
    • NAIC Proceedings
      • Sheryl Moore (Wink) said that while the discussion has focused on the range of returns, there are a number of other factors, such as leverage charges, that could result in internal policy costs  that are different from what is illustrated.
      • Ms. Moore said that because the bonuses and IRMs are not being considered, the loans do not adhere to the 1% spread requirement in AG 49.
    • [Bonk: Not in Proceedings]
      • Sheryl Moore
        • 3/ - Piggyback on Tom Taylor's comments. Non-guaranteed having insurance illustrations to increase. paying for higher returns. compounding the number of factors that can change form original illustration to inforce illustrations.  Agrees with Regalbuto - Fixed Life Insurance vs Security. many factors could change the illustration, not just interest rate. 
        • 3/ - Sheryl Moore - re: Regalbuto. loans.
          • Agents don't understand multipliers
          • "That's on you"
  • 2019 1114 - NAIC - IULSG - IUL Illustration (A) Subgroup, Conference Call
  • It is during this time that I became intimately familiar with the class action lawsuits that plagued nearly all sellers of interest-sensitive life insurance products that were marketed in the 1980's.
    • Although equally exposed to "vanishing premium" cases on the whole life side, it is the Universal Life (UL) purchasers that I spoke to most-frequently.
    • These were often elderly people, on fixed incomes, and recently uninsurable; individuals who had been shown UL illustrations at then-current rates of 12.00% at the UL policy's point-of-sale, but later had their inforce renewal rates dropped to the minimum guaranteed rates of 4.00%.
  • ⇒  I am certain that all interested parties in this matter can understand the grand disparity between projected and realized outcomes on these policies.

2014 0928 - Letter - Sheryl J. Moore to NAIC (LATF) - Moore Market Intelligence - RE: Actuarial Guideline on Illustrations for Indexed Life Insurance Policies - [link]

2014-1, NAIC Proc. -  Mike Boerner, Chair of Life Actuarial Task Force, Texas Department of Insurance

  • 2012 0110 - BrokersAlliance - Introduction to Indexed Universal Life - [Sheryl Moore] - [YouTube-27:23]
    • 26 - Sheryl Moore: What your Agents need to know about. And that is what is the integrity of the renewal rates with the company that you are doing business with. Because some of these insurance companies have very high, inflated first year rates and they are subsidizing them with the rates in years two plus.
      • Steve Savant: That sounds so evil to me.
      • Sheryl Moore: eh... No Comment. I'll just say it's become a function of our independent agent distribution system unfortunately.
  • BrokersAliance - Indices & Crediting Methods Indexed Universal Life - [Sheryl Moore] - youtube.com/watch?v=M7UK_7cstGg&t=61s
  • BrokersAlliance - Proposals, Illustrations & Income Scenarios Indexed Universal Life - [Sheryl Moore] - (Part 3) youtube.com/watch?v=JM8Nda9r1EA
  • 2023 - linkedin.com/posts/sheryljmoore_lifeinsurance-annuities-executivecompensation-activity-7084646364265005056-3n19/
    • Sheryl J. Moore  -I have nearly completed my examination of life insurance companies' executive compensation.  --- AND- I am conflicted.
      • My friend, and mentor, Joseph Belth used to publish this data annually, in his periodical "The Insurance Forum."
      • I am ignorant of any publicizing of this data, since Professor Belth's retirement a few years ago.
      • So, I can see how publishing this information could be a valuable public service.
      • On the other hand, a part of me says that some of my CEO friends would not appreciate me putting their compensation information into the public domain, for everyone to see.
      • Your thoughts?
      • Suzanne Powell, Senior Financial Advisor - I see why you are hesitant. I guess my question to you would be, why did you spend time examining the comp to begin with? Depending on your answer - you’ll see if it’s valid to post publicly, or to keep private? I also think it depends on what type of outcome you are looking for, from this information?
        • Jerry Vanderzanden, CLU, ChFC, CLTC- Excellent points Suzanne Powell, Senior Financial Advisor. Sheryl J. Moore, I am happy to hear that you have made rapid progress on this. I would suggest starting with your “why” and go from there.
          • Also a few have touched on the fact that this data is “public”. But it tends to be fugitive data and the definitions vary by regulatory data source. All of which means, not readily accessible or inteligible. Since you are not a reporter or academic, simply making this accessible might not be enough or in keeping with what you do. Are you planning on packaging with analytical context?
        • Sheryl J. Moore - I was motivated to gather this information because I read an article referencing exhorbitant compensation for a CEO, where the company has steadily lost market share since that CEO took the helm. I really gathered the data out of curiosity. I don’t have any goals or objectives, as it relates to this study. Suzanne Powell, Senior Financial Advisor sjm
        • Sheryl J. Moore - Nope. Jerry Vanderzanden, CLU, ChFC See my response to Suzanne. I have no plans for the data. sjm
      • Jack Clough, LUTCF, FIC - What bothers me is when I see the CEO of a company that's been around since the 1880s, making $500,000/year or more, has surplus less than 75 million, and a very high TSR value. This is information that is generally easy to obtain, but having a published source would make it handy. It's not so much the CEO's income that I am concerned about as much as I am about the company's TSR value.
        • Sheryl J. Moore - Understood Jack Clough, LUTCF, FIC. I see you are part of the Smart Advisor Network. 😉 sjm
      • David F. Sterling, Esq. - Sheryl J. Moore I encourage you to run this question by your attorney just to get a measure of his or her "reflex" reaction. I suppose by my comment that you are aware I believe there is much more to this than you might gather from this discussion thread. In today's environment and acknowledging your role, influence, and status within the industry, I believe this would be an excellent first step.
        • Sheryl J. Moore - David F. Sterling, Esq. smart. Thank you for the sound advice, my friend. sjm
      • Marc Glickman, FSA, CLTC-Sheryl J. Moore - There were a lot of things that Professor Belth published that insurance companies and executives didn't like. There are generally two sides to a story too.
        • Sheryl J. Moore - Agreed. I respect your opinion- ... sjm
        • Marc Glickman, FSA, CLTC - Sheryl J. Moore - I don't see the controversy, but I do think it is helpful to add context given your influential status.
      • Jon Hufford, Retired actuary and current co-owner of innovative auto related distribution company - They probably would not. Doesn't mean it shouldn't be done, however. I'd think you'd want to make some pretty good $ in return for gaining access to the information to make it worthwhile, but that's just me.
        • Sheryl J. Moore - Hard to charge for public information Jon Hufford, no? 🤷🏼‍♀️ sjm
        • Chris Brown, CLU - A lot of people aren’t willing to gather the information themselves, so they would be willing to pay to have it handed to them in a user-friendly package
      • Sheryl J. Moore - Therein lies the rub, Jay Adivaraha, Ph.D.. I think this is going to tick some off exponentially. Truthfully, I was offended by some of their pay. If value is absent, compensation should reflect that. sjm
      • Greg Napolitano, President / General Agent at Independent Financial Solutions - If it is public information and you are preparing all of it, in one easy to read place, then you have not breached any trust.
      • Alexa Brascetta, President and Wealth Advisor - I would ask what are your intentions with the information if you know it may be controversial.
      • DONALD M. ROY, Founder, NEWA - Facts are facts . Put the information out into the public and we can evaluate
      • Don Cahalan - Wink is all about information, expertise and awesome folks - this fits right in!
      • Corban R., COO at AIUSA - Spill those beans.
      • John "Jack" Murphy - It is already public but not easily accessible. It would be a good service to the industry if you would do it, just like when Belth did it.