Description: This 1981 session concerned Individual Life Insurance Cost Disclosure Issues including i. Current Status of Cost Disclosure Requirements 2. Responses to Cost Disclosure Pressures 3. Future Needs and Problems 4. Vehicles Available to Effect Changes There is also a discussion of replacements and the need for better communication of the comparisons of the replaced policy to the new policy to prospective buyers.

Description: Task Force report on life insurance company sales illustration practices from the perspective of the consumer. The study analyzes how well current illustration practices serve their primary functions of: 1. showing the consumer their policy values and premium payments over time, and 2. projecting best estimates of future performance and providing cost and performance comparisons with other policies.

Description: Discussion of the attitudes of consumers and consumerists regarding the life insurance industry and its products and a discussion of opportunities for improvement Topics include: 1. Disclosure to existing policyholders 2. Policy loan problems, including the policy replacement problem 3. dividend determination practices and 4. deceptive sales practices in the llfe insurance business.

Description: This presentation is an open forum from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The panelists present the preliminary report of The Society of Actuaries Task Force for Research on Life Insurance Sales Illustrations, summarizing the results of the task force’s work to date. Acknowledging the near universal belief that current sales illustration practices are inadequate, the panelists, members of the task force, discuss the alternatives to current illustration practices that the task force identified. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4A.