Q: What Do Agents Say to Consumers?
- The agent, as a result of not understanding the illustration, may misrepresent the product to the consumer.
-- Judy Faucett
1992 - SOA - Life Insurance Sales Illustrations, Society of Actuaries - 16p
- Some of the comments that we have heard from regulators about the illustration situation suggest feelings of, if not outright despair, growing frustration.
- A couple of them spoke sadly of the futility of regulating an illustration when the real issues involve the agent or the company.
- Larry Gorski of the Illinois department mentioned that in states that do not regulate advertising or promotional materials, misleading statements can be rampant in those materials even if the illustrations are made pure.
-- Benjamin J. Bock - Transamerica Occidental
1992 - SOA - Life Insurance Sales Illustrations, Society of Actuaries - 16p
- The agent said that Universal Life policy premiums would stay the same, but I came to realize that this is not true of our policies.
- ...what bothers me is that I am afraid that this same misleading information may be the basis of my children's and grandchildren's ... planning...
-- Statement of Gloria Darleen Newberry
1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance? - [PDF-354p-GooglePlay, No Video]->Not on govinfo.gov