Life Insurance Buyer’s Guide – LIBG

Academic

1978Consumer Accessing and Use of Information in Making Life Insurance Purchase Decisions, Jacob Jacoby – 124p

1981The NAIC Model Life Insurance Solicitation Regulation: Measuring the Consumer Impact in New Jersey, Roger A. Formisano – 22p

Actuarial

1976COST COMPARISONS AND POLICY LANGUAGE, Society of Actuaries

1979Cost Disclosure, Society of Actuaries 

NAIC (Draft and Final)

2018 – NAIC Life Insurance Buyer’s Guide – 8p

2007 – NAIC Life Insurance Buyer’s Guide  – 10p

2000 – NAIC Draft Life Insurance Buyers Guide  – PROC-2000-4Q_1 – 4p 

1996 – NAIC Draft redlined Life Insurance Buyer’s Guide  – Draft 1996-3B 931 – 6p 

1993 – NAIC Life Insurance Buyers Guide – 5p 

1983 – ACLI Revised Draft Life Insurance Buyer’s Guide only  – 1983-1 595 – 10p

1983 – ACLI Revised Draft Life Insurance Buyers Guide, letter and Disclosure Model Regulation  – 1983-1 523 – 27p 

1976 – NAIC Life Insurance Buyers Guide 1976-2 549 – 5p 

1973 – Interim NAIC Life Insurance Buyer’s Guide – WishList

Other Versions

1978 – Federal Trade Commission (FTC) – Life Insurance Buyer’s Guide – 12p 

1993 – Wisconsin – Life Insurance Buyer’s Guide – 10p “Adapted from the 1983 Life  Insurance Buyer’s Guide prepared by the National Association of Insurance Commissioners” 

 Wishlist:  The 1983 Life  Insurance Buyer’s Guide prepared by the National Association of Insurance Commissioners

WishLists

1973 Interim Version of the NAIC Life Insurance Buyer’s Guide

The 1983 Life Insurance Buyer’s Guide prepared by the National Association of Insurance Commissioners

1980s

1981 AAA Journal letter to NAIC LIBG

STATEMENT 1981-12 page 151/154

EXHIBIT C

POSSIBLE CHANGES IN SOME SECTIONS OF

THE LIFE INSURANCE BUYER ‘ S GUIDE

1981-12 Academy Statement to NAIC,  RE: Dividends, Life Insurance Buyer’s Guide, 1981 Journal – American Academy of Actuaries, page 144, 12p

1990s

1990s
6. Discuss Amendments to Life Insurance Buyer’s Guide
Mr. Dunlap said that a small group consisting of Mr. Higgins <Regulator>, Brenda Cude
(University of Illinois Cooperative Extension Service), and Chris Kite
(FIPSCO) and himself had rewritten the buyer’s guide (Attachment One-C).
1996-1 NAC Proceedings Mr. Dunlap said, with this last change, the Buyer’s Guide Subgroup considers its task to be complete. He said the primary reason for revision of the Buyer’s Guide was to make changes required by the illustrations regulation. In addition, the subgroup took the opportunity to improve the wording of the Buyer’s Guide to make it more readable.
Upon motion duly made and seconded the Life Insurance Buyer’s Guide was adopted (Attachment Three-B1a).

1996-3

2 sets – (1976-2019) and (before 1976).

(1976-2019)

Chronological Summary of Actions (all references are to the Proceedings of the NAIC).
1976 Proc. I 7, 10-11, 381, 521, 523-527 (adopted).
1976 Proc. II 15, 17, 397, 542, 545-552 (reprinted with technical amendments and Buyer’s Guide).
1978 Proc. I 13, 15, 348, 472 (corrected).
1984 Proc. I 6, 31, 375, 496, 497-510 (amended and named changed from Life Insurance Solicitation to Life Insurance Disclosure Model Regulation).
1988 Proc. I 9, 19-20, 599-600, 625-626 (amended).
1988 Proc. II 5, 12, 478, 490, 503-510 (amended, regulation reprinted).
1989 Proc. II 13, 23, 414-415, 419-422, 428-429, 430-442 (amended).
1990 Proc. I 6, 27, 438-439, 450-451, 453-463 (amended).
1991 Proc. I 9, 17, 540, 549-557, 558-559 (amended, regulation reprinted, Appendix E adopted).
1992 Proc. I 86, 94, 860, 868, 869-878 (amended and regulation reprinted).
1993 Proc. I 8, 136, 795-800 (amended).
1996 Proc. 3rd Quarter 9, 40, 907, 918, 931-936 (amended Buyer’s Guide).
2000 Proc. 2nd Quarter 21, 22, 67, 99, 101-125 (amended and reprinted).
2000 Proc. 4th Quarter 16, 17, 105, 167-170 (Buyer’s Guide amended).
2018 Proc. 3rd Quarter (Buyer’s Guide removed). The following have all been superseded by the model regulation above.)
a. Deceptive Practices in Life Insurance Model Regulation:
1973 Proc. II 18, 21, 471, 532-533, 541-543 (adopted).
1974 Proc. I 12, 14, 405, 440, 442-443 (amended).
b. Life Insurance Cost Comparison (Interest Adjusted Index) Model Regulation:
1973 Proc. II 18, 21, 471, 532-533, 538-540 (adopted).
1974 Proc. I 12, 14, 405, 440, 442 (corrected).

© 2018 National Association of Insurance Commissioners 580-5


(before 1976)

NAIC Proceedings – 1983 Vol. I xxxi

Buyer’s guide: see next entry
Cost Comparison – Life Insurance Solicitation Model Regulation:
1976 Proc. I 523-527
1976 Proc. II 545-552 (reprinted with technical amendments and with the Life Insurance Buyer’s Guide
– 549-552 as an appendix)
1978 Proc. 1472 (corrected)
(The following have all been supplanted by the Model Regulation above.)
a. Deceptive Practices in Life Insurance Model Regulation:
1973 Proc. II 541~543
1974 Proc. I 442443 (amended)
b. Li/I? Insurance Cost Comparison (Interest Adjusted Index) Madel Regulation:
1973 Proc. Il 538·540
1974 Proc. 1442 (corrected)