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#1
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From www.ncdoi.com:
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#2
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I haven't specifically heard about this. But my momma always told me, "If it sounds too good to be true, it probably is." There has to be a catch, or maybe several.
Back in my product development days we used to joke about how the sales force wanted a policy with no premiums. They told us, "just deduct the premiums from the death benefits." They sort of lost interest in the idea when we pointed out that commissions would also be deferred until death occurred.
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Carol Marler, FSA, MAAA, A Dedicated Actuary Just My Opinion (Although this statement is my opinion, and I am an actuary, it's still not a statement of actuarial opinion, and you really shouldn't rely on it.) Updated quotes Jan. 25: Spoiler: |
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#5
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Crack down on COLI/BOLI first, before going after the inside build-up. Just sayin'
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Carol Marler, FSA, MAAA, A Dedicated Actuary Just My Opinion (Although this statement is my opinion, and I am an actuary, it's still not a statement of actuarial opinion, and you really shouldn't rely on it.) Updated quotes Jan. 25: Spoiler: |
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#6
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Brad Gile, FSA, MAAA Affiliate Member of the CAS Dedicated Retired Actuary Spoiler: Spoiler: |
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#7
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There was another company that had a Single Premium Universal Whole Life product with an interest rate guarantee of 4% for life and zero mortality charges. They unconvincingly asserted that the mortality costs would be adequately covered by interest spreads. Um, no.
Brad
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Brad Gile, FSA, MAAA Affiliate Member of the CAS Dedicated Retired Actuary Spoiler: Spoiler: |
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#8
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#9
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Someone lock this thread before it gives the Florida DOI ideas for homeowners insurance please.
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The President: ... the avatar is intended to be a subtle reminder of the influence of money in politics and the influence of politics on money ... 2pac: Maybe [Obama] will get lucky like Bush did on 9/11. It doesn't matter who you vote for, the government always gets in. -- Elizabeth May ???? Jan 20: Freedom for the Bill of Rights Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury, with the result that a democracy always falls under loose fiscal policy. -- Sir Arthur Francis Tytler |
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#10
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Who loses?
I have seen lots of similar schemes presented over the years and that is the key question to ask. Somebody always loses. Maybe it is a bad guy like the IRS, but somebody always loses (and the IRS has a way of changing the rules later so that they no longer are the loser). If the scheme presenter says nobody loses, then run like the wind in the western sky, because the intended loser is you. Chuck |
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