Archive for May 2020
OFR – Office of Financial Research
OFR – Office of Financial Research financialresearch.gov/ FRAC – Financial Research Advisory Committee Financial Stability Report financialresearch.gov/congressional-testimony/ OFR – Financial System Vulnerabilities Monitor – [link] OFR – Study on Asset Management Issues 2013 – OFR – Asset Management and Financial Stability Report – 34p Comments on OFR Study on Asset Management Issues – SEC – [link] OFR…
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Price Cost – Index Price-Fixing Pricing Pricing Assumptions Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA – Life Insurance and the Buyer by Anna Rappaport, Society of Actuaries – 2p-Article I believe that there is an urgent need for the life insurance industry to answer the accusations of its critics who…
Read MoreTarget Premium
Target Premium Target Premium – Walker v LSW If your training process for your agents is to sell at target premium, for example, and target premium carries the policy to maturity at a 7 percent rate, if you’re only crediting 6, it’s not making it there. So keep an eye on how you’re training your…
Read MorePlanned Premium
Planned Premium Planned Premium For UL and VUL Plans, this is the Amount of Annual Premium that the Policyholder Plans to pay at Issue. Typically this is the Billed Amount. For Whole Life and Term Plans, this is the Annual Required Premium. 2006 – SOA – Minimal Policyholder Behavior Format, Society of Actuaries – 4p…
Read MoreCharles Trowbridge
Charles Trowbridge Actuary – Principal Life Adjustable Life Insurance Adjustable Life is quite different in form from Universal Life, largely because it retains the traditional principle that savings and insurance elements are intertwined–but we shall see that the same objectives can be accomplished. — Charles Trowbridge 1976 – SOA – Adjustable Life Products, Society of…
Read MoreWalter Chapin
Walter Chapin Adjustable Life Insurance, Minnesota Mutual Life Walter Leeds Chapin, Walter L. Chapin 1992 – SOA Obituary, p670-671 A product innovator of extraordinary talent, Mr. Chapin had begun thinking in the 1940s about the possibilities of a flexible life insurance policy, but saw that its complications were then unmanageable. By the 1960s, recognizing that advent…
Read MoreGeorge Dinney
George R. Dinney Universal Life Insurance Great-West Life Assurance Company WHO CONCEIVED THIS INSTRUMENT? – Universal Life Insurance Subject to responsibility being accepted (and documented) by somebody else, we hold that the father is George R. Dinney, and the place of conception Winnipeg, Canada. 1981 – SOA – Who Conceived this Instrument?, by EJM, Ernest…
Read MoreTony Spano
Tony Spano 1990 – SOA – Quality of Life Insurance Sales Illustrations, Society of Actuaries – 16p Tony Spano (ACLI): I’m going to discuss what Norm referred to as consumer disclosure forms. ⇒ Policy Information for Applicant – Universal Life Policy – NAIC — [BonkNote] 1993 – NAIC – Policy Information for Applicant – Universal Life – Life Insurance Disclosure…
Read MoreShane Chalke
Shane Chalke Those illustrations were too aggressive I think. — Shane Chalke 1995 – SOA – Current Developments Surrounding Regulations and Standards of Life and Annuity Products, Society of Actuaries – 18p 1983 – SOA – Universal Life Valuation and Nonforfeiture: Generalized Model, by Shane A. Chalke and Michael F. Davlin, Society of Actuaries – 72p 1983…
Read MoreErnest J. Moorhead (Jack)
Ernest J Moorhead (Jack) – EJM There is bound to be a controversial element in anything that enlightens the public to these differences and gives them a more intelligent basis for choice than they have at the present time. — Ernest J. Moorhead 1977 – SOA – Debate Resolved: The Life Insurance Business as Transacted…
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