Suitability

Mr. Adams asked if it was the intent of the working group to consider placing the burden of suitability on the company.

  • He said the draft language speaks of using a correct illustration, without emphasizing whether the illustration is of a policy that is right for the policyholder.

1994-3, NAIC Proc. 

FIND: NAIC notes, 1,2,3,

 

2. Discuss Suitability White Paper
The working group reviewed the white paper (Attachment Four-B)

1999-4v2, Suitability Working Group

Law

Law Reviews

2002 - MY CUSTOMER'S KEEPER: THE SEARCH FOR A UNIVERSAL SUITABILITY STANDARD IN THE SALE OF LIFE INSURANCE. Richard J. Wirth, Western New England Law Review

2013 - Suitability and Non-Maleficence: A Proposal for Insurance Producer Regulatory Reform, Mark Franke, Loyola

Legal Cases

1958 - Knox v Anderson , Hawaii

2010 - Pike v New York Life, New York