Regulatory Commentary
#357 | The Multi-Verse of 7702 Rates
This article was written by Steve Cox, FSA, MAAA, who is the Head of Life Insurance at Life Innovators. Earlier this year, I wrote an article talking about the impact of rising interest rates on Section 7702. The main takeaway…
AG 49-B Article – Aspire Magazine
I wrote this article for Aspire Magazine, but I thought I would reprint it here on The Life Product Review because it’s a concise description of the history of Indexed UL illustration regulation and the forthcoming revisions to AG 49-A,…
#342 | AG 49-B & The Next Phase of IUL
Quick Take AG 49-B is likely to be adopted in the next couple of weeks and implemented in March of 2023. The immediate effect will be dramatic - some accounts will see reductions in illustrated income as large as 50%.…
#329 | AG 49-B Takes a Leap Forward
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#311 | The Shifting Winds of AG 49-A
For the third time, the IUL Illustration Subgroup of the Life Actuarial Task Force (LATF) of the A Committee of the NAIC – yes, that’s really how the hierarchy goes – will take up the question of what to do…
#300 | Get Ready for AG 49-B
At the NAIC Life Actuarial Task Force (LATF) virtual meeting in early December, Fred Andersen (MN), the chair of the IUL Illustration Subgroup, read a prepared statement asking for comments on a particular nuance related to AG 49-A and the…
#285 | The Lesson of the Cares Act
To quote the great Yogi Berra, “in theory, there is no difference between practice and theory. In practice, there is.” That’s certainly the case with the Washington Cares Act, a well-intentioned law designed to provide a backstop for the growing…
#263 | 7702 Update – Symetra Moves First
Nearly 2 months after the fact, we finally have our first retail product illustrations that reflect the new 7702-2% (as opposed to the old, 7702-4%) rates. The results are in-line with what I wrote about in previous articles, but I…
#259 | Section 7702 Q&A
The Section 7702 Christmas Miracle Update It’s been a whirlwind start to the year for the life insurance industry. Since publishing The Section 7702 Christmas Miracle on January 5th, it has amassed an unbelievable 16,000 reads – a testament to…
#257 | The Section 7702 Christmas Miracle
This is the closest thing to breaking news in our industry and, as such, it’s still very much evolving. Current updates to the post are at the very bottom. For all of the buzz and lead-up to the creation and…
