Cost
Non-Guaranteed Cost Element – ACLI
Non-Guaranteed Cost Element – ACLI A couple of ACLI groups have also been studying various aspects of universal life insurance. The Council’s Subcommittee on Cost Comparisons has proposed that cost disclosure requirements for universal life plans be generally similar to those for traditional life insuranceplans as provided by the NAIC Model Life Insurance Solicitation Regulation.…
Read MoreFSOC – Cost Benefit Analysis
FSOC – Cost Benefit Analysis MetLife v FSOC – District court, Judge, Decision 2011 1116 – GOV (House) – Insurance Oversight and Legislative Proposals – [PDF-131p] (p25) – Mr. STIVERS. And the last question, I guess, for Mr. Schwarcz, given our discussion earlier about subpoena power, is there any requirement now for the FIO to do…
Read MoreLow Cost
Low Cost Nevertheless, an insurable person today can generally buy permanent insurance at apparently lower cost than ever before. How has this been achieved? It has been accomplished by mercilessly squeezing profit margins, by assuming recent lapse experience to be a passing phase, by swallowing mortality declines as quickly as they appear, by weakening valuation…
Read More2019 0917 – LIIIWG – NAIC – Life Insurance Illustrations Issues Working Group – Proceedings (Fall, 6-77) – Cost of Insurance
2019 0917 – NAIC – LIIIWG – Life Insurance Illustrations Issues Working Group – Proceedings (Fall, 6-77) – Cost of Insurance 2019 0917 – NAIC – LIIIWG – Life Insurance Illustrations Issues Working Group – Proceedings (Fall, 6-77) – Cost of Insurance (COI) — [BonkNote] (A) – NAIC Proceedings (B) – [Bonk: Not in NAIC…
Read More1978 – GOV (House) – Life Insurance Marketing and Cost Disclosure – John Moss (D-CA)
1978 – GOV (House) – Life Insurance Marketing and Cost Disclosure 1978 0807, 0814 and 0815 – GOV (House) – Life Insurance Marketing and Cost Disclosure, John Moss (D-CA) — [BonkNote] [PDF-1049p-GooglePlay] – [PDF-826p-govinfo.gov] 1978 12 – GOV (House-Report) – Life Insurance Marketing and Cost Disclosure Report Together with Dissenting Views, John Moss (D-CA) — …
Read MoreCosts of Lawsuit – Walker v LSW
Costs of Lawsuit – Walker v LSW (p73-74) – Defense: “over a million” = emails? MR. SHAPIRO: We’d have to have someone go back, restore the email, and restart the machinery. I get split it out ratably, that is, sort of divide it out. It’s cost us in terms of review something on the order…
Read MoreInsurance Code – Section 10509 – Insurance Costs / Illustrations – Walker v LSW
Insurance Code – Section 10509 – Insurance Costs / Illustrations – Walker v LSW There is no suggestion that Section 10509 says that you affirmatively do not have to break out the fees. We have alleged that failing to break out the fees is deceptive because they are material, and in addition, the partial representation…
Read MoreCosts and Illustrations – Walker v LSW
Costs and Illustrations – Walker v LSW (p78-79) – Matthew DeSantos – LSW’s Senior Vice-President of Distribution and Business Development (himself a former insurance agent) – DOC 792 – p27 Q Do the illustrations even without optional page that itemizes the expenses, does the standard illustration reflect in some way the costs of a policy?…
Read MorePremiums, Costs, Values and Benefits – Examples
Premiums and Benefits – Examples Table I demonstrates the potential difference in offerings by paring the premiums per $1000 for a man 25 years of age in ten different policies. 1976 – AP – Implementation of Full Disclosure of Policy Value in the Life Insurance Contract – Graph – Premium Per 1000 – Bernacchi -…
Read MorePremiums, Costs, Values and Benefits – Expert Witnesses
Premiums and Benefits – Expert Witnesses Q. Do you recall the vanishing premium litigation? A (Wilcox): Very well. Q. Would you agree that the sales practices that were used in the vanishing premium — in selling those policies was problematic? MR. HIGGINS: Objection. Vague. THE WITNESS (Wilcox): In a limited number of cases, that was true. But again, that’s…
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