1970 - Joint Special Committee of Life Insurance Costs

  • 1970 - Report of the Joint Special Committee on Life Insurance Costs - (p720-748) - 29p
    • Report to American Life Convention, Institute of Life Insurance, Life Insurance Association of America 
    • 1973 — GOV (Senate) - The Life Insurance Industry –  4 parts - Senator Hart - Part 1 - 0220 - PDF-794p
  • My interest in this challenging subject goes back to my membership on the 1970 Joint Special Committee chaired by Jack Moorhead.
  • This Committee proposed what was then known as the interest-adjusted method, which later became the basis of the NAIC approach now in effect in some 2/3 of the states.

--  C.L. Trowbridge

1981 - SOA - Individual Life Insurance Cost Disclosure Issues, Society of Actuaries - 22p

  • 1972 - AP - An Empirical Investigation of Attitudes Toward the Life Insurance - Marketing, by O. C. Ferrell Jr. - 181p 
  • 1973 - SOA - A Ratio of Interest-Adjusted Cost Indexed for the Comparison of Dissimilar Life Insurance Contracts, by Peter L.J. Ryall, Society of Actuaries - 28p
  • The Insurance Industry recently appointed a Joint Special Committee of Life Insurance Costs to consider the method or methods that a buyer of life insurance may find most suitable for use in comparing premiums, dividends and cash values of comparable policies that are offered by different life insurance companies.
  • The Joint Special Committee issued a report on May 4, 1970 reviewing a long list of cost indices possibilities.
  • Three major methods were submitted;
    1.  Methods that determine an Insurance cost index, having assumed an interest
    2. Methods that determine an interest yield rate, having assumed a cost of insurance.
    3. Methods that relate the values of amounts paid by the company to amounts paid by the policyholder.  (p4)

--  Senator Roman L Hruska (R-NE) -  Ranking Republican Member, Senate Antitrust and Monopoly Subcommittee

1973 - GOV (Senate)The Life Insurance Industry - Hart, Part 1 of 4 - 794p