AG 49 Changes Pass Key NAIC Committee
July 15, 2020 by John Hilton
The Life Insurance and Annuities Committee voted unanimously over vociferous objections to adopt language proposed by the American Council of Life Insurers to shore up Actuarial Guideline 49.
Regulators conceded that the changes might not be ideal, but expressed a desire to do something to bring IUL illustrations more in line with actual returns.
“This is something that is going on in the marketplace now,” said Doug Ommen, Iowa insurance commissioner.