Performance
Start – Performance
Starters – Performance Mr. Schwartzer reminded the Working Group that the Life Insurance Illustration Issues (A) Working Group came out of concerns raised when the Indexed Universal Life (IUL) Illustrations (A) Subgroup under the Life Actuarial (A) Task Force was working on guidance for IUL policy Illustrations that would result in consumers being better able to…
Read MorePolicy Performance
Policy Performance ….provide illustrations based on different assumptions. This would serve to demonstrate to the consumer the effect on future benefits of changes in assumptions. STATEMENT ON BEHALF OF THE AMERICAN COUNCIL OF LIFE INSURANCE <ACLI> TO THE NAIC MARKET CONDUCT SURVEILLANCE (EX3) TASK FORCE, June 13, 1988 1988-2, NAIC Proceedings Doc 781 – (p4-5) -…
Read MoreSB-Policy Performance, Variability, UL Description
sb-policy-performance-variability-Non-guaranteed Elements – Universal Life Universal Life Descriptions Policy Performance Variability / Volatility Nonguaranteed Elements (NGE’s) / Nonguaranteed Policy Elements Illustrations Disclosure Life Insurance Buyer’s Guide Sales / Buying Process Market Conduct Premium Lapse Academics ACLI Actuarial Government Law NAIC Mr. Wicka said the paper <Assurity White Paper- Consumer Issues Associated with Guaranteed Universal Life Policies”…
Read MoreHistorical Performance
Historical Performance NAIC – IULISG – IUL Illustration Subgroup Some have suggested that historical experience should replace current scale as the basis for describing how the not guaranteed elements of the policy can operate. Substitution of historical performance for current scale would not solve many of the problems related to sales illustrations. Since it is…
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Performance Benefits Coverage Period Historical Performance Policy Performance, Variability, UL Description Results Outcomes Cost – 2000 – AP – The Nature and Causes of Variation in Insurance Policy Yields: Whole Life and Universal Life, Journal of Insurance Issues, 2000, 23, 1, pp. 30–47, by James M. Carson and Mark D. Forster – 18p The actual versus…
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