Yardstick

  • Ernest J. MOORHEAD. I guess I would , I hope you'll not think this is with tongue in cheek, express my happiness at Mr. Matz's remarks about the yardsticks.
    • When I went before the ACLI committee, of which he was then chairman the adjective applied to the yardstick idea was ludicrous.
    • I'm pleased that he is now so far away from regarding the idea as ludicrous. (p149)

1977 0628 and 0630 - GOV (Senate) - Disclosure of Insurance Policy Information to Veterans, Richard Stone (D-FL) - [PDF-415p-GooglePlay]

  • Mr. SHAFFER. Do you have any position on the yardstick issue?
  • Mr. VOGEL Yes.
  • Mr. SHAFFER. Would you tell us what it is?
  • Mr. VOGEL We don t think that it's a necessary part of the disclosure or sales process.
  • Mr. SHAFFER. And the reason for that is?
  • Mr. VOGEL. The reason for that is several fold.
    • There are the technical difficulties with the yardstick itself, which have to do with the difficulty of getting up-to-date figure on what various are doing, which an earlier witness testified about.
    • Also, a great deal of insurance in this country is sold on a combination basis with a term insurance part and a permanent insurance part, and there is a question then what do you do with these two separate pieces, which certainly makes the yardstick less attractive? (p412)

1978 0807, 0814 and 0815 - GOV (House) - Life Insurance Marketing and Cost Disclosure, John Moss (D-CA)  ---  [BonkNote]

  • 108  This basic approach to providing yardstick information is contained in the buyer's guide required by the State of Wisconsin, a copy of which is contained in Appendix X.
    • The FTC draft buyer's guide in Appendix X also contains an example of this type of yardstick. (p155)
  • Another way of providing yardstick information that Offers great promise is the recently implemented "Hotline" in the State of Wisconsin.
    • This system provides a toll—free telephone service that consumers can call to find out whether the policy they are considering is high, average, or low cost compared to other similar policies offered for sale in that state.  (p156)

1979 - FTC - Report - Life Insurance Cost Disclosure, Federal Trade Commission - 460p