Starters - Documents

  •  x - 1973-2 Exhibit II 21 different attempts DuRose bonknote p117-120 4p
  • x - 1987-Huebner-Black-Skipper-Life-Insurance-11ed-UL-Flexible-Graph bonknote p94
  • x - 2016 SOA Target Premium Buckets mp-2016-iss3-zhao-komissarov
  • coi tables, etc. - Flitcraft Compend
  • Reserve Factor
  • Claire 5th - 
  • Universal Life
    • Advertisements
      • x - 1983 0228 NP Lincoln Life Clarion Ledger
      • x -1982 0713 NP Chicago Tribune Differences Between Whole and Universal Life Insurance
      • x - 1987 NP AutoOwners UL PermaTerm 2
    • Society of Actuaries
      • 1984
    • NAIC
    • Stuff
      • 1987-Huebner-Black-Skipper-Life-Insurance-11ed-p94-UL-Flexible-Graph.jpg

Actuarial

  • Policy Overview
    • x - 2004 ACLI IAA Appendix 1 Pricing Assumptions bonknote p30 1p

Agents - Knowledge/ lawsuits

  • x - 1996 NP SOA Casteel v Crown bonknote
  • / - 1993 GOV When Will Policyholders Agent Keating bonknote 3p
  • Van Mueller
  • Maloof - 2010 - Maloof v John Hancock - Alabama Supreme Court Opinion - 39p
    • (p5) - After receiving these notices, John <Policyholder> contacted Glasgow <Agent>, who had retired in 2000, to inquire why his policies would be terminating, even though he had timely paid the premiums on the policies for approximately 18 years.
    • (p21) - The undisputed facts indicate that Glasgow <Agent> did in fact procure two universal life-insurance policies for the Maloofs <Policyholder> and that, had the Maloofs <Policyholders> continued to pay sufficient premiums on those policies, they would have remained in effect and the benefits of those policies would have been available for any purpose after John <Policyholder> died.
    • (p7) - Glasgow <Agent> subsequently joined in that motion. <The Lawsuit against John Hancock>

Systemic Risk

  • Loss of Confidence, Trust
  • Combination
    • Executive Life 
      • Videos
    • Madoff
      • Ackerman, SEC
    • FTC Report - 1970s
  • I sincerely believe we have a flawed instrument in today's sales illustrations.

    It is neither a reason to condemn our industry nor pretend our industry should have been immune to change, especially with the economic realities of the past few years.

    But we did not communicate the impact of change as well as we should have, especially the impact of change on the numbers we used in our sales illustrations.

    So our challenge is to learn and to respond. I sincerely believe it's a  shared responsibility by all of us - agents, the actuarial profession, company leadership, regulators and even the consumer.

    Our biggest mistake would be to delay. I don't believe the consumer will tolerate or forgive us, let alone the regulators, if we do nothing. 

    -- Robert Nelson (NALU / NAIFA)

    1993 - SALES ILLUSTRATIONS - WE CAN'T LIVE WITH THEM, BUT WE CAN'T LIVE WITHOUT THEM!, Society of Actuaries

Consumer Tools - Illustrations / Annual Reports

  • Blumenthal - Universal Life
    • x - 2011 1129 LC Blumenthal Sutherland IllustrationDisclosureLeadtoDismissalofUniversalLifeInsuranceClassAction
    • Law - Duty to Read, Parole Evidence, <Statute of Limitations>,
    • Actuarial - GMP/GLP, Performance, Coverage Period, cash value, adjust premiums - change coverage period, Inforce Illustrations, Policy Cash Flow Mechanics
    • Pics
      • Blumenthal-v-New-York-Life-Yearly-Detail.png - Numeric Detail
      • Blumenthal-v-New-York-Life-GLP-GMP-MP-2
    • x - charges-Doesnt-matter-Blumenthal
    • Blumenthal Depositions
      • 85-1 - 2010/03/02 - Vol. 1 - 56p
      • 85-6 - 2010/03/02 - Vol. 2 - 7p
        • 2010/Case 5:08-cv-00456-F Document 77-1 Filed 04/29/10
    • Blumenthal Deposition - Doc 81-1
      • Blumenthal Explain This Sufficient-premiums-
      • 10 - (s30) - LC Blumenthal Cash-Value <SIV>-What-<else> is-it-suppose-to-be bonknote
      • 12 - (s38) -  Oral Contract, I thought I had a life policy, for life, as long as your paid the premiums, adequate
        • IUL - Minnesota - Agents Wild Card
      • 19
        • (s65) - see here where it goes to 0
        • (s66) - I must not have seen this (s66)
      • 23 
        • (s82) - <i> Interest rates go up and down
      • (p25)
        • (s91) - Ridiculous, Personal Responsibility for your actions. I don't see what that has to do with anything
        • ML - hard earned money
      • (p26)
        • (s96) - Premiums, That's a stupid question. Sometimes I ask "stupid questions."  I realize that.
          • 1980/2020 - Premium paid doesn't matter, does the policy have cash value?
          • LIBG - 198x vs current
        • (s97) - "we show how your policy would perform under three different assumptions,"
          • P1,
        • (s100) -That's not what -- that's not the point of this. Really, Phil, you're off the thing.
      • 39 
        • (s147) -Oral Contract, yes - Integrated Contract (Contract Language)
        • (s148) - "as long as the premiums were adequate"
      • 40
        • (s150) - Exhibit 10, Bates numbered Blumenthal 37 through Blumenthal 43.  - Illustration
        • 198x - NAIC - ACLI Range Approach
        • 1991/2 - AAA - Task Force Report
      • 42
        • (s159) - Min / Max Duration
          • SOA - UL has min / max - as opposed to AL
      • 43 
        • (s165) - Duty to Read, you choice
      • 45 
        • (s170) - Degree in Accounting, <Duty to Read>, businessman
      • 45
        • (s172) - Current Values <SIV>- Whatever that is
      • x - (p46-50) (s178+ )
        • Blumenthal Doc 85-1 Plaintiff Deposition bonknote p46 4p
      • (s?) - x - charges-Doesnt-matter-Blumenthal
    • x - Sanderberg Deposition - DOC 85-3
      • x - (p25) (s-90-93) - "Actuarial Absurdity" 
      • Didn't adjust for Option 2 - 
      • x -(p40) (s150-153) - Q. So you're you're saying that the illustration is defective because it tells you, in very clear and stark language, that the policy might lapse''
        21 A. For
        22 Q. Come on.
      • x - (p41) (s154-157) - Blumenthal v NYL 2010 0304 Sanderford Testimony Doc 85-3 Unreadable bonknote p41
      • x - (p42) (s158-161) (Blumenthal v NYL 2010 0304 Sanderford Testimony Doc 85-3 Believable No bonknote p42
    • Defendant
      • x - 2010 LC Blumenthal Defendants Reply Expert Witness Doc 82 bonknote 18p
      • Expert Witness Report - Doc 82-1 (35p)
        • Blumenthal v NYL Plaintiff Expert Witness Report DOC 82-2 bonknote 23p.PDF
        • x - (p5) - Illustrations, Annual Reports (Tools), x - (p5) - Policyholder Responsibility - shorten / lengthen Coverage Period.
        • (p12) - 
        • (p13) - Graph 
        • (p17) - Illustration Charts
          • Adjust Premium to shorten or lengthen coverage
  • Fay v Aetna
    • Hager Deposition - UL Disclosure Form
    • Claire
      • UL is Permanent, Government Website
      • UL can be anything, 5th Book
  • Vogt - Universal Life
    • x - Mrs. Deposition - 4p
    • Vogt-End-of-Coverage-Graph-2.png - Annual Summary 
  • 1997 - LC - Grove v Principal - Adjustable Life
    • x - Data Pages - 2p
    • x - Adjustment page - 1p
    • x - Illustration Example - 1p
    • 1997 - Grove v. Principal Mut. Life Ins. Co. (Formerly Bankers Life)
      • CASE NO. 4-97-CV-70224
      • DISTRICT COURT - SOUTHERN DISTRICT OF IOWA

Adjustable Life (Not Universal Life) -

  • Walter Chapin - Minnesota Mutual, Charles Trowbridge - Bankers Life
  • Media
  • Ratebook - Best's Flitcraft Compendium
    • 1983 - Minnesota Mutual - Adjustable Life II - p335
    • 1987 - Minnesota Mutual - Adjustable Life III  - p272
    • 1983 - Bankers Life (Principal Mutual) - Adjustable Life II - p78
    • 1987 - Principal Mutual (Bankers Life) - Adjustable Life - p366
  • policy specifications page
  • Legal Case -
    • Grove v Principal Life
  • Society of Actuaries

ACLI 

  • x - 1982-1, (ACLI) presented a paper on cost disclosure for universal life products.
    • x - 1982-1 NAIC-ACLI-paper-on-cost-disclosure-for-universal-life bonknote p399 4p

States

  • x - 1993-2 NAIC Guide to Understanding Ledger Illustrations California bonknote p1037 1038 1p
  • x - 1978 Life Insurance Buyers Guide Chart Wisconsin

NAIC

  • Commissioner Wilcox next asked Ms. VanLeer to show the illustrations she had prepared that used the standards in the technical resource advisors' draft to prepare an actual illustration (Attachment Four-C).  (p522/)