benefits
Nonlevel Premium and Benefit Policies
Nonlevel Premium and Benefit Policies The valuation actuary concept is a form of dynamic valuation. It’s becoming increasingly clear that the traditional formula-driven valuation standards cannot deal with the many variations and products, and the pace and development of new products. This has become more obvious to me over the last year as I’ve chaired…
Read MoreLC – Blumenthal v New York Life – 82-1 – Defendant Expert Witness Report – Dynamic Coverage Period Grid – p13 – 1p
LC – Blumenthal v New York Life – 82-1 – Defendant Expert Witness Report – Dynamic Coverage Period Grid – p13 – 1p Legal Case – Blumenthal v New York Life 82-1 – Defendant Expert Witness Report – Michael LaBoeuf – 23p Defendant Expert Report – Annual Summary Chart – p14 – 1p
Read MoreBenefits – Industry Groups
Benefits – Industry Groups In the alternative he <Coleman-Prudential> suggested that the provision be reworded to say: “The annual report shall provide notice that the policyholder may request an illustration of current and future values and benefits.” 2000-3, NAIC Proceedings An agents’ association representative <Robert M. Nelson (NALU, NAIFA)> reported that his group was concerned about…
Read MoreBenefits – Consumer Representatives
Benefits – Consumer Representatives How much do the benefits build up in the policy? How will the timing of money paid and received affect interest? 2018 – LIBGWG – Cude Letter / Markup Life Insurance Buyer’s Guide – Revised 2-9-18 for discussion on conference call 2-22-18 1994-2, NAIC Proceedings – June 13 -…
Read MoreBenefits – NAIC / Regulators
Benefits – Regulators So I think that the NAIC is going to have to relook at the whole issue of life cost disclosure. It is an issue that will not go away. As long as the internal benefits of a policy are not reflected in the premium, people need help in measuring those benefits. That…
Read MoreBenefits – Actuarial
Benefits – Actuarial 2017 1115 – Letter – AAA to NAIC LIBGWG – Re: Life Insurance Buyer’s Guide Q&A Draft 8/1/17, American Academy of Actuaries, Life Insurance Buyer’s Guide Working Group (A) – 2p Universal life also allows for flexibility in policy benefits, not just premium payments. Maybe he is not getting all the disclosure…
Read MoreACLI – Benefits
ACLI – Benefits ….provide illustrations based on different assumptions. This would serve to demonstrate to the consumer the effect on future benefits of changes in assumptions. (p183) 1988-2, NAIC Proceedings – ACLI – A Statement on Behalf of the American Council of Life Insurance to the NAIC Market Conduct Surveillance (EX3) Task Force – 3p …
Read MoreBenefits
Benefits The main concern was that an unsophisticated buyer purchased a policy and did not know what the coverages, benefits and limitations were. 1988 0603 – Universal & Other New Plans (A) Task Force – NAIC – Attachment Two 1988-2, NAIC Proc. Nonforfeiture Premium Benefit Pattern – Examples Benefits – ACLI Benefits – Actuarial Benefits…
Read MoreGuaranteed Premium and Benefits Patterns Summary – NAIC
Guaranteed Premium and Benefits Patterns Summary 7 results (0.32 seconds) 5/24/2020 – Google Search life insurance disclosure – NAIC Delivery of the Guaranteed Premium and Benefits Patterns Summary shall be consistent with the time for delivery of the Buyer’s Guide as specified in Paragraph … ACLI Comments 6/21/19 – NAIC Jun 21, 2019 – and Guaranteed Premium and Benefits…
Read MoreAccelerated Benefits
Accelerated Benefits 1990 – SOA – Accelerated Benefits, Society of Actuaries – 18p 1991 – LR – Death and Taxes: The Taxation of Accelerated Death Benefits for the Terminally Ill, Wayne M. Gazur, University of Colorado Law School – 88p 1991-1A, NAIC Proceedings -Accelerated Benefits Guide Model Regulation, 12/5/1990 – Attachment Two (p544) (D) Disclosure…
Read More