Most major life companies are vigorously enforcing compliance standards with their sales agents

Article Abstract:

A number of major life insurance companies, including New York Life, have increased their scrutiny of the claims being made by their agents. This change in policy is a result of fines imposed on MetLife, Equitable and Prudential for misrepresentations made by agents. Life insurance has been sold as a tax-free retirement plan, and some agents engaged in churning. New York Life's Corporate Compliance Department is detailing what materials agents should present to clients to ensure that they are properly informed.

Standards, Management, Insurance agents

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Beyond technology: redefining the underwriting of older clients

Article Abstract:

The Case Research Protocol (CRP) is an alternative life insurance underwriting method for cases involving older clients where the traditional method has proved inadequate. Underwriting life insurance is more complex with older clients who are increasingly substantial investors in life insurance. Older clients' medical histories are generally more extensive than younger clients and medical technology often creates complexity and uncertainty in risk evaluation. A model for implementation of the CRP is presented.

Aged, Elderly, Methods, Insurance

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The law and economics of vanishing premium life insurance

Article Abstract:

Holders of vanishing premium life insurance policies are suing life insurers because premiums on the policies are still being required, but their chances of recovery are uncertain. The insurance companies cite lower interest rates as the reason the payments are still required. Class action plaintiffs will have a difficult time getting certified as a class and proving misrepresentation or breach. Courts finding liability should favor reliance damages over benefit of the bargain damages.

Class actions (Civil procedure), Cases, Class action lawsuits, Laws, regulations and rules

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