Dots - Illustrations Research

  • 1991 - SOA - Illustrations, Society of Actuaries  ---  [BonkNote]  ---  20p,
    • JUDY FAUCETT: We're going to discuss the preliminary report of the Task Force for Research on Life Insurance Sales Illustrations.
  • 1991-1992 - SOA - Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries - 142p
    • Appendix II - Illustration Examples
  • 1992 - SOA - Life Insurance Sales Illustrations, Society of Actuaries - 16p
  • 1990-1A, NAIC Proceedings - NAIC / LIMRA - Universal Life Disclosure Form Focus Group Summary, Consumer Issues Disclosure Working Group - NAIC  ---   [BonkNote]  ---  10p
    • A great deal of the confusion seems to stem from a lack of understanding of how cash value insurance products work and a lack of understanding of insurance terminology.
    • Also, because most people presume that if you pay your premium continuously, your policy will remain in effect, quite a few people had a hard time understanding how or why the policy would terminate in policy year 31.
      • This was simply foreign to their way of thinking.
    • One person was so confused that he said that the maturity age and endowment benefit were moot points, since the policy was going to end at year 31 anyway.
  • 1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH)  ---  [BonkNote]
    • (p1) - Senator Metzenbaum: We heard from actuaries, insurance agents.
      • State officials, beneficiaries, and we saw pages and pages of life insurance illustrations that were practically incomprehensible, and we were given a report by the Society of Actuaries.
    • Senate - Committee on The Judiciary - Subcommittee on Antitrust, Monopolies and Business Rights