American Council of Life Insurance
Article Abstract:
At a recent annual Meeting of the American Council of Life Insurance (ACLI), the Stark-Moore legislation was of primary concern. It was hoped that Congress would go ahead with the new Life Insurance Company Tax Act, because the 1959 legislation has become quite outdated. ACLI lobbied heavily in favor of the new legislation. The industry was able to have Congress lower their projected tax for 1984 by almost one billion dollars, to just under three billion dollars, but the industry views the overall tax level as an increase. The main advantage of the bill is that it would simplify tax procedures. Other topics of interest at the meeting were the deregulation of financial services, which might cause banks to enter the insurance industry, SEC requirements for equity-type products, suspect international loans, unisex ratings and the federal deficit. The consensus of the meeting was that Congress must promulgate a comprehensive framework for deregulation.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1984
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Changing Pockets
Article Abstract:
The deregulation in financial services is making popular the notion of one stop shopping. Banks are becoming involved with insurance. So, too, are insurance companies becoming involved in banking. Several cautious guidelines should be followed when adding services to an organization. Banks and insurance companies should realize the differences between themselves and should not attempt to take over all the business interests.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1984
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Whole Life: Albatross or Eagle
Article Abstract:
Product quality needs close consideration. Interest rate cycles cause problems with new money products. Consumer needs must be considered. Universal life is the most successful product in the history of life insurance. Objections to universal life are analyzed in relation to the product experience. Whole life is of limited value. Term plus annuity may be the best strategy.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1983
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