Walter Miller

The educational task is huge, and it’s not just with the customers; it’s with our agents also.

I would say to all of you that if you think that you don’t have any customers or any agents who fail to understand what a nonguaranteed illustration really means, you’re kidding yourself. — Walter Miller

1991 – Illustrations, Society of Actuaries

MR. MILLER: That was one of the recommendations made by the Advisory Committee that Shane <Chalke> and I worked on almost ten years ago, and it joined most of our other recommendations in being trashed by the then NAIC working group. So things are coming around.

1995 – CURRENT DEVELOPMENTS SURROUNDING REGULATIONS AND STANDARDS OF LIFE AND ANNUITY PRODUCTS, – 18 p, Society of Actuaries

MR WALTER HILLER: Arnold <Dicke> suggested that universal life stemmed from the desire of many consumers to have a product that unbundles the insurance and investment elements.

At New York Life, we get a lot of communications from policyowners but we cannot remember one single request for a product that unbundles the insurance and investment elements.

I would like to ask how many people here have received requests for such unbundling from

the public. (No hands were raised.)

1981, EQUITY FOR EXISTING POLICYOWNERS, Society of Actuaries