Richard Weber

  • 2019 0514 - Richard Weber / Leimberg - Are You in Good Hands? - 25p
  • 2020 - JFSP -  Life Insurance Suitability, by Richard Weber - [link] 
  • 2022 0914 - InsuranceNewsNet - The Advisor’s Guide to Client Risk and Insurance, by Richard Weber - [link]
  • 2022 1101 - insurancenewsnet - Today’s selling and buying environment requires new standards, by Richard Weber - [link]
  • 2023 0321 - NAIC/Consumer Liaison Committee - 6p
    • (p3-4) - Richard Weber (Life Insurance Consumer Advocacy Center—LICAC)
      • 2023 0323 - ThinkAdvisor - Advisor Tells Regulators That Life Illustrations Are Just Too Simple, By Allison Bell - [link]
  • 2023 1130 - NAIC Proceedings - NAIC/Consumer Liaison Committee - 21p
    • 9. Heard a Presentation on How Much Life Insurance Purchased in the U.S. Becomes a Death Claim
  • 2023 0321 - NAIC/Consumer Liaison Committee - 6p
    • (p3-4) - Richard Weber (Life Insurance Consumer Advocacy Center—LICAC)
    • 5. Heard a Presentation Calling Attention to the Dilemma of Current Assumption Policy Illustrations
      • Weber provided some simple graphic views of variable universal life policies and said an illustration showing a $5,900 annual premium with an illustrated rate of return of 10% had only an 8% probability of success of actually covering a policyholder until age 100.
        • Weber said consumers should buy policies based on the probability of success rather than the lowest premium. Weber said a policy with a constant illustrated rate of return of 4.4% would need an annual premium of $16,500 to reach a 99% probability of success.
  • (p521) - Mr. Weber suggested that the illustration show ... how the policy values are paying the premium.
  • Mr. Morgan said that this issue needs specific attention because many complaints were received in the state insurance departments on this issue.  

Richard Weber - (Merrill Lynch Life)

1994-3, NAIC Proceedings - (Life Disclosure Working Group – NAIC)

  • 2005 - When is a Premium Not a Premium?, by Richard Weber - 4p
    • The dilemma is in the very use of the word “premium.”
    • You probably first think of what you pay for car insurance or disability insurance: you get a quote – and if “shopping” – often choose policies on the basis of the best price.
      • You then pay that “premium,” and you’ve got your coverage.
      • But many of today’s life insurance policies don’t actually have a “premium!”
    • 2005 - JFSP - When is a Premium Not a Premium?, by Richard Weber, Journal of Financial Service Professionals,  Vol. 59, Iss. 4,  (Jul 2005): 34-37 - <WishList>
  • Date-? - Charity-Owned Life Insurance: An Objective Primer for Planned Giving Officers, by Richard Weber - 84p
  • <WishList> - 2005 - JFSP - Weber, Richard M. , Journal of Financial Service Professionals; Bryn Mawr Vol. 59, Iss. 4, (Jul 2005): 34-37 - <WishList>
  • Life Insurance as an Asset Class, by Richard Weber - 23p
  • Linda S. Streck: I think the response from the NAIC to the illustration issue is somewhat of a hard hammer for all of us.
    • In a session at this meeting, Dick Weber, who is now with Merrill Lynch, made the comment that, when we made illustrations available to the agents, that was when we, as actuaries, lost control of the product development function.

1994 - SOA - The Driving Forces Behind Participating/Universal (UL) / NonGuaranteed Element Product, Society of Actuaries - 12p 

  • Adjustable Life insurance policies are essentially whole life policies that within limits have the premium and death benefit flexibilities of UL.
    • Unlike UL, these policies are not “transparent” and contain non-forfeiture values.
    • Policy premiums and death benefits can be adjusted along a continuum ranging from limited pay policies on a guaranteed basis to term insurance for limited durations. 
    • These policies have had a rather limited distribution, as they were only sold by a small number of insurance companies.

Date-? - Charity-Owned Life Insurance: An Objective Primer for Planned Giving Officers, by Richard M. Weber and Randy A. Fox - 84p

  • 2009 - LC - Helton v. Am. Gen. Life Ins. Co.
    • casetext.com/case/helton-v-am-gen-life-ins-co-1
      • MEMORANDUM OPINION AND ORDER
        • This matter is before the Court on Defendant Lawrence Rasche's motion to exclude the opinions and testimony of Plaintiffs' expert, Emily Will [DN 277] and Defendant American General's motion to exclude expert testimony of Richard M. Weber, Burke A. Christensen and Emily J. Will. [DN 284]. Fully briefed, these matters are ripe for decision.
      • I. BACKGROUND
        • This case stems from the sale of financed premium life insurance plans by Defendants American General Life Insurance Company ("American General") and its agent Lawrence Rasch ("Rasch").
          • Under these plans the insurance premiums are financed through bank loans.
    • 4:09-CV-00118-JHM (W.D. Ky. Jun. 4, 2013)