1973/4 - GOV (Senate) - The Life Insurance Industry - Hart

  • 3 E. J. Moorhead, "The Hart Hearings in Perspective," Best's Review, January, 1974, p. 16:
    • "First is the massive ignorance of policyholders about their life insurance.
    • It is hard to believe that people know as little about their life insurance property as the surveys show."
  • 4 Ibid.. p. 70. Mr. Moorhead points to five probable thrusts of the Hart hearings:
    • (1) price and quality of our products,
    • (2) freedom of the agent,
    • (3) sales practices,
    • (4) sales interference, and
    • (5) efficiency of state regulation.

1974 - SOA - Consumerism and the Compensation of the Life Insurance Agent, Anna Maria Rappaport - 68p

Part 1

  • Armstrong Report
  • TNEC
  • (p113-175) - Understanding your Life Insurance, Institute of Life Insurance

  • The Widows study - LUTC and LIAMA

    • (p313-391) - The Onset Of Widowhood, vol. 1 

    • (p392-508) - Adjustment to Widowhood, vol. 2

  • (p566-610) - Statement of Joseph Belth
    • p599 - Table 3 - Annual Information
  • (p720-748)  -  Joint Special Committee on Life Insurance Costs - 29p - Snippets
    • Cost Comparison Methods Table
  • (p749-759) - Speech of E.J. Moorehead, 1970/11/09
  • .....American consumers pay a bill without having more than a somewhat vague idea of what they are buying.
  • If this were the result of flimflam, enforcement agencies would have been all over the sellers years ago. But this is not intentional flimflam it is as the man in " Fiddler on the Roof” explained away so many things— " tradition ."
  • These 140 million consumers, at an outlay of about $23 billion a year, are buying life insurance policies.  (p1)

--  Senator Philip Hart – (D-MI)

1973 0220 - GOV (Senate) - The Life Insurance Industry, Senator Hart (D-MI) - Part 1 of 4 - [PDF-815p-GooglePlay]

Part 2

    • .. Exhibit Il <p117-120> which shows that, in the last fifty years, no less than 21 different attempts have been made to solve this problem.. insurance departments.
    • Furthermore, enacting a federal statute on life insurance cost disclosure would only address itself to part of the problem.

    1973-2, NAIC Proceedings, (p107-131)

    -- Statement of Stanley C. DuRose, Jr. - Commissioner of Insurance - Wisconsin / NAIC

  • (p993) -  Life Insurance "Cost," "Price." and "Value" - Presentation
  • (p1020)- NAIC Proposed Report of the Life Insurance Cost Comparisons and Price Disclosure
  • (p899) 1960 - The Construction of Persistency Tables, by Ernest J. Moorehead(EJM), Society of Actuaries
  • Interest Adjusted Method (IAM)
  • Hruska, Durkin

Part 3

  • Pennsylvania Life Insurance Shopper's Guide - Denenberg
  • John C. Bogle
  • (p1818) - Consumers Union
1973-GOV-Life-Insurance-Hart-Opening-1-of-4-p1
1973 -The_Life_Insurance_Industry Illustraton 1 of 4 p599
1973-GOV-The-Life-Insurance-Industry-2-of-4-Nader-Pennsylvania-Regulators-Nobody-Agrees 2 of 4-p912
1973-GOV-The-Life-Insurance-Industry-2-of-4-Table-Cost-Comparison-Methods-1-of-p930
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