Premiums and Benefits - Congress

  • I think any way that we can make illustrations more understandable to the public is certainly going to help us.
    • We've seen the problems that have occurred when Senator Howard Metzenbaum (D-OH) was given an illustration with a vanishing premium, and he had absolutely no idea that he had bought a policy that was not paid up in four years.
    • It caused many problems for the industry; it caused many problems because the press got involved, and the press doesn't understand the products as well as it thinks it does.

--  Linda M. Lankowski

1995 - SOA - Practical Illustrations and Nonforfeiture Values, Society of Actuaries - 14p

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1973 0220 - GOV (Senate) - The Life Insurance Industry, Philip Hart (D-MI) - Part 1 of 4   ---  [BonkNote]  ---  [PDF-815p-GooglePlay]