5. Consider the Life Insurance (A) Committee Nov. 27. 1995r Minutes Concerning Adoption of the Revised Life Insurance Illustrations Model Act

• Commissioner Robert Wilcox (Utah) explained that the Life Insurance (A) Committee considered several minor changes in the proposed Life Insurance Illustrations Model Regulation.
• He noted that only a few of these changes were substantive.
• He noted one change to treat other cash value policies in a manner similar to the treatment of universal life insurance policies.
• He also described another Executive Committee change based on the difficulty of disclosing expense allocation.
• Lastly, Commissioner Wilcox explained that the model requires disclosure of the assumption that currently illustrated non-guaranteed elements will continue unchanged, but this is not likely to occur, so that actual results may be more or less favorable than those shown.

1995-4, NAIC Proceedings