Project - Performance

  • 2016 0403, NAIC Proceedings (6-8), LIIIWG, Life Insurance Illustrations Working Group, Conference Call
    • 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 understand the product performance and interest variability of IUL products.
  • (p153) - he = Patrick Brockett, Plaintiff Expert Witness
    • And he identified the fact that sometimes when the market performs lower, the policy has less value.
    • Is that a secret, that sometimes when the market performs at a lower rate of return, the policy will have less value?

2014 0425 - LC - Walker vs Life Insurance Company of the Southwest, LSW - DOC 813 - Trial Transcript - 224p

  • Much of our work has dealt with the issue of illustrating Nonguaranteed Elements.
  • As a backdrop, I want to quote from a January 1988 Financial Planning article.
  • The article is entitled "Future Shock" by Harry Lew with the sub-heading: <WishList>
    • "What will happen when a generation of insurance buyers begins comparing unrealistic illustrations with the actual performance of their policies?
    • Industry leaders would prefer not to find out."

--  Larry R. Robinson, Chairman of the ACLI Subcommittee on Cost Comparisons

1988 - SOA - Actuarial Opinion on Non-Guaranteed Elements, Society of Actuaries - 12p