Starters - Complaints

  • Ms. Winer asked if it would be useful to ask states whether they have received consumer complaints about the summaries.

  • Mr. Wicka said that it would be helpful to have that kind of information but that he is not sure it would be possible to track down complaints to that level of detail.

2016-2, NAIC Proceedings - Life Insurance Illustrations Working Group (LIIIWG)

Commissioner Tyler said that because one consumer complaint often means that other consumers are also harmed by a particular practice, he would like to know the relationship between consumer complaints and proper market regulation.

He said market regulators should leverage consumer-complaint data to ensure that what happens to one consumer is not happening to others.

2009-3, NAIC Proceedings

  • They are complaints about things that we can’t do anything about because the contract might be a universal life type product with nonguaranteed elements, and there is no regulatory framework to deal with those issues.

  • Those complaints just fall by the wayside because there is nothing that can be done.

--  Larry Gorski - <Illinois Insurance Department - Actuary>

1996 - Nonforfeiture Law Developments, Society of Actuaries - 23p

Why are we getting so many complaints?

  • Did the policyholder expect rates to stay the same forever?
  • Did the agent or the company mislead?
  • Did the policyholder think we were promising?
    • He shouldn't have, I hope he didn't.


  • Vice President and actuary with Life of Virginia in charge of product development.
  • Member of the American Council of Life Insurance (ACLI) Task Force on Cost Disclosure 
  • Member of the National Association of Insurance Commissioners (NAIC) Advisory Group on Illustrations

1993 -Sales Illustrations - We Can't Life with Them, But We Can't Life Without Them!, Society of Actuaries