Neither model was intended to generate Buying Guides or to relieve consumers of their own individual responsibilities to understand the product that they are spending their hard-earned money to buy after all.
ACLI - Michael Lovendusky
2018/11/09 - LIIIWG <Bonk>
Second, it was observed that there was a real lack of accountability in the current marketplace involving life insurance sales, there is virtually no accountability for any of the participants in the sale
- not for the company,
- not for the agent,
- and interestingly, the white paper discussed accountability on the part of the purchaser as well.
- Accountability is a major issue.
-- ROBERT E. WILCOX - Chairman of the Life Insurance Disclosure Working Group (NAIC)
1994 - PROBLEMS AND SOLUTIONS FOR PRODUCT ILLUSTRATIONS, Society of Actuaries - 28p