Coverage Period / Performance / Scenarios / Results - Walker v LSW

(p99) - Performance, results - Matthew DeSantos - LSW’s Senior Vice-President of Distribution and Business Development (himself a former insurance agent) - DOC 792 p27>

  • Q Would you read that narration for us.
  • A The guaranteed basis shows how the policy will perform and the interest rate and maximum policy charges that are guaranteed by the company.
    • This is the most conservative way to calculate the values.
  • Q And continuing to page 13, the top slide, if you could read the narration there for us, Mr. DeSantos.
  • A Illustrating the policy on the current basis shows results using assumed interest rate and charges currently in effect.
    • These values are higher than the guaranteed values. But as we noted before, they may change over time.

2014 0423 – DOC 812 – Trial Transcript – Day 10 – Walker v LSW – 194p

(p221) - 

Q Do you see that under the guaranteed values column there is a zero in year 17 under cash surrender value end year?
A I see that.
Q Do you see the zero?
A I do.
Q What did you understand about that?
A Well, like I was beginning to say, Mr. Botkin and I reviewed those columns.

  • And whenever I pointed out these zeros starting at policy year 17, he indicated to me that the only way that the policy would zero out at policy year 17 was if the S&P returned flat or negative returns for 17 straight years and that the possibility of that happening was very remote.  <Walker>

2014 0416 – DOC 809 – Trial Transcript – Walker v LSW – 236p