• Lester Dunlap (La.) also expressed interest in the idea of standardized assumptions to show how the policy works.
  • He said projections far into the future can border on misrepresentation. 

1994-3 NAIC Proc.

A misrepresentation is judged to be "material" if "a reasonable man would attach importance to its existence or nonexistence in determining his choice of action in the transaction in question

....'" (Kwikset Corp. v. Superior Court (2011) 51 Cal.4th 310, 332 [120 Cal.Rptr.3d 741, 246 P.3d 877].)