Insurer: Add full in-force life insurance illustration to regulation remix

December 13, 2022 by John Hilton

A state regulator panel has closed an initial comment period on potential changes to the overall life insurance illustration regulation.

Any changes to the regulation would be a highly sensitive, extended process difficult to complete, regulators say, so the Indexed Universal Life Illustration Subgroup is proceeding cautiously.

The advertised comment period only asked for revision “concepts” for Model Regulation #582. The subgroup received five comments.

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The Coalition of Concerned Insurance Professionals submitted the most detailed comment letter filled with eight pages of technical changes to the regulation. The coalition grew from initial comment letters authored by Sheryl Moore of Moore Market Intelligence and Bobby Samuelson of The Life Product Review.

Originally Posted at InsuranceNewsNet on December 9, 2022 by John Hilton.