Performance

Assurity White Paper

Assurity White Paper - in particular, the impact consumer payment patterns have on the performance of the product. 

Mr. Wicka said the paper advocates for: 1) additional information to be provided to consumers regarding how the timing of their payments impacts the product; and 2) follow-up information to be provided to consumers at the time their payments go off-track so that consumers are aware of the impact to their policies.

2016 5 17 - LIIIWG

Consumer Testing

Wicka

Wisconsin Supportive - Jennifer References another Consumer Testing thing

Consumer Testing

ACLI

not supportive of consumer testing at this time. (Prudential Life Insurance and Northwestern Mutual Life Insurance - Chair the ACLI Committee)

Performance

Consumer Testing

Assurity White paper

BB

Mr. Birnbaum suggested that questions for consumer testing could come from the Assurity white paper, such as whether a consumer can reasonably be expected to understand the consequences of varying payment patterns after reading the summary.

Summaries - Examples

Emily Micale (ACLI) said that the companies have only shared the sample summaries on a limited basis with Wisconsin, NAIC staff and consumer representatives, with the understanding they would not be shared more broadly at this time. She said they are working on getting the companies comfortable with sharing the summaries more broadly, but only if the use of the summaries is limited to aiding the Working Group in the completion of its 2016 charge