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Article: New illustrations guidelines on tap. (National Association of Insurance Commissioners' working group meeting on life insurance policy illustrations)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- October 31, 1994
- Author:
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State regulators are proposing revised standards for a model regulation which would provide for the use of both guaranteed and current values in life insurance policy illustrations.
The life disclosure working group of the National Association of Insurance Commissioners, chaired by Utah Insurance Commissioner Robert Wilcox, met in Kansas City last week in an effort to resolve some of the issues regarding life illustrations that were left in limbo following the NAIC's quarterly meeting in September.
At that meeting, the group tabled a model law that would require insurers to use only guaranteed values and past performance in life insurance applications ...