Seriously. Let’s do something about it!
November 30, 2023 by Sheryl J. Moore
No, no, no!
Disagree. Click HERE to read Consumer Reps Ask States to Change Annuities’ Faces
“For clients, illustrations serve as products’ easy-to-understand faces.”
Hardly.
On the other hand, so glad that the National Association of Insurance Commissioners (NAIC)‘ A Committee was compelled to keep the Indexed Universal Life Illustration Subgroup going.
“Eliminate hypothetical historical results and projections of non-guaranteed outcomes.”
YES!!
And I would LOVE to see insurance companies illustrate how a reduction in caps/pars, and/or increase in spreads, would affect the policy’s performance.
As for “other participants in the conversation, including regulators at the NAIC, have questioned whether the critics’ proposals would work better than the rules and disclosures now in use,” it can’t get much worse than doing nothing.
Seriously. Let’s do something about it! -sjm
