ARTICLE · 07 APRIL 2015

IREG Update

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Regulators and industry representatives who have been grappling with new rules concerning Indexed Universal Life Insurance illustrations for the past year came together in person on March 26 at the Life Actuarial Task Force.

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New Indexed Universal Life illustrations model: Heading for consensus (minus New York)

Regulators and industry representatives who have been grappling with new rules concerning Indexed Universal Life Insurance (IUL) illustrations for the past year came together in person on March 26 at the Life Actuarial Task Force (LATF) as part of the National Association of Insurance Commissioners (NAIC) Spring National Meeting in Phoenix. The illustrations issue has divided the industry. A small group of large companies that do not write IUL led by MetLife, New York Life and Northwestern Mutual (the Non-IUL Group) has leveled pointed criticism at existing IUL illustration practices as well as the efforts of other members of American Council of Life Insurers (ACLI) to propose new IUL illustration guidelines to the state regulators on LATF.

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