1994-3

1994-3

“Mr. Wright <Commissioner> reported that the NAIC had agreed to hire an actuarial consultant to assist the working group in its task.”

1994-3, NAIC Proceedings

1994-3 p566 (608)

“Jim Johnson (Mutual Group) said the most important part of the illustration

was the footnotes at the end. He suggested that instead of many footnotes there should be a simple, clear explanation at the beginning.  He said consumer understanding was important and suggested a set of common definitions.

1994-3 p

“Fred Nepple (Wis.) asked if the working group would actually end up proposing two different models with opposite approaches.

Mr. Montgomery said that he did not see much other choice

because some regulators were very much opposed to illustration of non-guaranteed elements and other regulators supported

that approach to a great extent.”

 1994-3 p566 (608)

“Ed Coover (National Travelers Life) said the problem was explaining to consumers that the illustration was only a snapshot.”