Regulators lukewarm on illustrations rewrite in 2024
January 2, 2024 by John Hilton
It is long overdue to update the life illustrations model regulation, agreed Sheryl Moore, CEO of Wink, Inc. and Moore Market Intelligence.
“It is time to nip the illustration gamesmanship by the bud,” she said. “Indexed life didn’t exist when the life insurance illustration model regulation was adopted by the states. It’s time to reopen the model reg, and ensure that all cash value life insurance products are being illustrated in a manner that is helpful in ensuring that the consumer understands how the product truly works.”
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