Illustration Model Regulation - Comments
- Walker v LSW - Judge - Video
- NAIC Proc - 1990s - end of Working Group - Good Job
The only requirement with respect to nonguaranteed elements is that a disciplined current scale be used.
- Theoretically, there is a maximum disciplined current scale.
- Any scale that depicts policy performance less favorable than the maximum is a disciplined current scale.
- It seems likely, however, that many companies will tend to illustrate close to the maximum.
-- Thomas L. Bakos
1996 - Implementing the Illustration Regulation: The Clock Is Ticking, Society of Actuaries - 25p
- Commissioner Wilcox said that he admitted that the working group <Life Disclosure Working Group> had gotten a little sloppy on its terminology, but it had been clear all along that the working group was focusing on sales.
-- Robert E. Wilcox - Chairman of the Life Disclosure Working Group (NAIC)
1996-4V2, NAIC Proceedings
- I'm a member of the NAIC working group that developed this regulation and I am terribly disappointed.
- I have been interested in the illustration issue for probably 15 or 20 years, and some of you may know that when I became President of the SOA, the first thing I did was establish the task force that developed the report on sales illustrations.
- Tragically, what's come out of this process doesn't do the
job.
-- DAPHNE D. BARTLETT
1995 - SALES ILLUSTRATIONS, Society of Actuaries - 14p