Life Insurance Marketing and Cost Disclosure: Report Together with Dissenting Views |
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Common terms and phrases
ACLI Actuaries Report ance average Belth buy term calculated cash accumulation cash value choice Commission cost comparison coverage death benefits death protection disclosure system display Equivalent Level Annual face amount Federal Trade Commission free look FTC's hereinafter cited illustrated dividends information disclosure insurance companies insurance cost disclosure insurance market insurance needs insurance policies insurance products insurance purchasers interest rate interest-adjusted invest the difference issue lapse rates Level Annual Dividend Linton Yield low cost policies McCarran-Ferguson Act Moorhead NAIC rule NAIC witness NALU paid participating policies percent policy costs policy data Policy Summary policy's policyholder premium dollars proposal prospective purchase decision rate of return recommend return disclosure side fund similar policies Society of Actuaries Subcommittee sumers supra note 27 surrender cost index surrender value term and whole term insurance term policy tion whole life insurance whole life policy whole life premium
Popular passages
Page 26 - Congress did not take away from the citizen 'his inalienable right to make a fool of himself. It simply attempted to prevent others from making a fool of him.
Page 83 - Cost indexes use one or more of these faeton to give you a convenient way to compare relative coït« of similar policies. When you compare costs, an adjustment must be made to take into account that money is paid and received at different times. It is not enough to just add up the premiums you will pay and to subtract the cash values and dividends you expect to get back. These indexe* take care of the arithmetic for you.
Page 82 - Cost" is the difference between what you pay and what you get back. If you pay a premium for life insurance and get nothing back, your cost for the death protection is the premium.
Page 39 - Scheel, William C. Yearly Prices of Protection and Rates of Return in a System of Life Insurance Cost Disclosure.
Page 18 - Life Underwriter Training Council and Life Insurance Agency Management Association, The Widows Study, Vol.
Page 62 - Act forbids mergers in any line of commerce where the effect may be substantially to lessen competition or tend to create a monopoly. The Federal Trade Commission Act states that unfair methods of competition and unfair or deceptive acts or practices in commerce are unlawful.
Page 62 - Act are to be applicable to the business of insurance "to the extent that such Insurance business is not regulated by State Law.