1994 06 - Kiplinger's - Buying Life Insurance: What the Numbers Don't Show - Future cash values may not be as big as they seem - (p49-52), by Kristin Davis
- 1994 06 - Kiplinger's - Buying Life Insurance: What the Numbers Don't Show - Future cash values may not be as big as they seem - (p49-52), by Kristin Davis --- [BonkNote]
- "When we first developed formats for vanishing premiums, no one stepped back and asked, 'What would the average consumer think by looking at this illustration?'" says Judy Faucett, an actuary with the accounting firm of Coopers & Lybrand in New York City. "We knew what we meant, but I'm not sure consumers knew what we meant."
- 1994 08 - Kiplinger's Personal Finance - Reader Comment
- Ray Silva, San Jose, Cal. - [Bonk: Guardian Life Insurance Company - Agent]
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Life insurance illustrations - Insurance illustrations are useful to show consumers how a policy works ("Buying Life Insurance: What the Numbers Don't Show'" June).
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But consumers must understand the difference between a policy's guaranteed and nonguaranteed elements.
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Dividends are not presented as promises because they will vary depending on changes in mortality, expenses, interest rates and how long policyholders keep their policies.
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- 1994 08 - Kiplinger's Personal Finance - Reader Comment
- "When we first developed formats for vanishing premiums, no one stepped back and asked, 'What would the average consumer think by looking at this illustration?'" says Judy Faucett, an actuary with the accounting firm of Coopers & Lybrand in New York City. "We knew what we meant, but I'm not sure consumers knew what we meant."