Regulators Ask for Advice About Indexed Universal Life Illustrations
August 31, 2022 by Allison Bell
The Life Actuarial Task Force wants to know: Can it make anyone who cares about indexed universal life insurance performance illustrations happy?
The task force — an arm of the National Association of Insurance Commissioners — is asking anyone interested in the topic for advice on what it should do.
Wink’s Note: I read this article, and then I got angry.
“Doug Ommen, the Iowa insurance commissioner, has suggested that the working group should disband, because states have shown little interest in the project.”
I’m sorry that while you have been regulating cemetery insurance, pet insurance, boat insurance, homeowners insurance, auto insurance, health insurance and MORE that you haven’t noticed that the insurance industry is shooting itself in the foot with indexed life illustrations.
This matter isn’t any less important simply because states have shown little interest in this project. -sjm