Dots - Policy Mechanics

  • (p171) - The fact that we charge people fees that we have disclosed and that fees reduce the value of your policy, and if your policy keeps reducing in value, it will lapse, is not a fraud.
    • That's common sense.
    • That's how life insurance works.

2014 0425 – DOC 813 – Trial Transcript – Day 12 – Walker v LSW – 224p

  • 1993 - When - Metzenbaum
  • Hidden Defects
  • GAO - Military
  • Blumenthal

DOC 815 TRANSCRIPT for proceedings held on 2/14/2011 - 41p

  • (p11) - Brosnahan: I would like to move on to the non-guaranteed  elements unless the Court has any questions.
  • THE COURT: No.
  • MR. BROSNAHAN: There are two aspects in which we contend that the illustrations were deceptive with regard to the non-guaranteed elements.
    • Both of these theories relate to what we consider to be hidden defects in the structure of these policies.
    • Now, first, with regard to the volatility issue, we allege that these policies suffer from a material risk that is not disclosed because large fees are deducted from the policy in both good times and bad,...