Current Assumption Universal Life – Page 2

NCOIL Tables Model Legislation Efforts to Deal with Cost of Insurance Increases in Life Insurance

NCOIL, the National Council of Insurance Legislators, met in Atlanta last weekend to discuss, among other things, “legislative solutions to unjustified premium increases (1).” NCOIL is an organization made up of state legislators interested in insurance and financial matters, many of whom serve on related committees in their home states. The goal of the organization is to inform state legislators by creating a venue for [...]

mbrohawn2018-03-09T07:35:12-06:00March 9th, 2018|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, News, Policy Management|3 Comments

New York State Issues New Regulations Regarding Cost of Insurance (COI) Increases

In November of last year we reported on a regulation floated by the New York State Department of Financial Services to “govern life insurance company practices related to increases in the premiums” of life insurance and annuity policies. The goal was to “protect New Yorkers from unjustified life insurance premium increases.” This week, the department issued their final regulation. According to a press release announcing [...]

mbrohawn2017-09-21T14:57:21-05:00September 21st, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Policy Management|0 Comments

Lincoln National Consolidated COI Lawsuit Update – The Case Is Moving On

A little over a year ago we posted a blog about a Lincoln Financial cost of insurance (COI) increase on Legend Series Universal Life policies issued between 1999 and 2007 that originated at Jefferson Pilot (Lincoln Financial purchased Jefferson Pilot in 2006). Earlier this year we reported on a class action lawsuit filed in in the Eastern District of Pennsylvania against Lincoln. Other lawsuits soon followed, and in May we reported that [...]

mbrohawn2017-09-18T15:05:58-05:00September 18th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Policy Management|1 Comment

Transamerica Cost Of Insurance (COI) Case Results In Win for Plaintiffs

Less than two weeks ago we reported on an interesting COI increase lawsuit. In that case, DCD Partners v Transamerica Life Insurance Company, a Los Angeles church pastor who enlisted an outside investor to finance life insurance policies providing burial funds for congregants had filed suit, along with the investor, against Transamerica for a 50% COI increase in policies issued to the group. In their lawsuit, the [...]

mbrohawn2017-09-18T12:18:34-05:00September 18th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Policy Management|1 Comment

WSJ Article Highlights Interesting Cost of Insurance Case

An interesting cost of insurance (COI) increase lawsuit has been playing out over the span of two years in a Los Angeles courtroom. The case was featured in a Wall Street Journal today as the case is set to go to trial next week. (1) The case involves a Los Angeles church pastor and an investment group that financed life insurance policies on his church [...]

mbrohawn2017-09-01T09:35:38-05:00September 1st, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Policy Management|3 Comments

Phoenix Announces New Cost of Insurance (COI) Increases

This week our New York City office received letters from Phoenix alerting us to cost of insurance (COI) increases on Accumulator (I, II, III, and IV) and Estate Legacy Universal Life policies. Per the carrier, the cost increase was necessary because “certain anticipated experience factors are now less favorable than we anticipated when we established the cost of insurance rate schedule.” According to the letters [...]

mbrohawn2017-08-29T08:53:09-05:00August 29th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Life Settlements, News, Policy Management, TOLI Administration|0 Comments

Another Insurance Executive Rings An Ominous Industry Bell Because Of Low Interest Rates

In the last few years we have written over 20 articles on the cost of insurance (COI) increases that have plagued the life insurance policies we manage. The main reason for those increases? Most would say the historic low interest rate environment that we are (still) in. In a post published just over a year ago, we listed some low rate winners and losers. When [...]

mbrohawn2017-08-11T12:08:04-05:00August 11th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Life Insurance Investments, News, Policy Management|1 Comment

Transamerica Raising Cost of Insurance (COI) On Certain Policies Issued In 1998 and 1999

We recently received confirmation from Transamerica that they are raising cost of insurance charges on their Ultra 115 and Survivorship 115 products issued in 1998 and 1999. Increases will take effect on the policy anniversary dates beginning August 1, 2017. Although illustrations are not yet available, we have learned that the increases are expected to be 58%. Updates will be posted as they become available.

mbrohawn2017-07-27T12:25:10-05:00July 27th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, News, Policy Management|0 Comments

Lincoln Financial Group Raising Cost of Insurance (COI) On Another Block of Policies

In May of 2016, we reported that Lincoln Financial Group, acting as administrator and reinsurer, had raised cost of insurance (COI) rates on a block of policies issued by Aetna Life Insurance and Annuity Company (now Voya Retirement Insurance and Annuity Company.) In August of the same year, we reported that they were raising COI on a block of Legend Series Universal Life policies issued [...]

mbrohawn2017-07-07T09:56:52-05:00July 7th, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, Policy Management|2 Comments

Lawsuits Consolidated Against Lincoln National For Cost of Insurance Increase

In August of 2016 we wrote about a cost of insurance (COI) increase from Lincoln National (now Lincoln Financial Group) on a block of policies originally underwritten and issued by Jefferson Pilot from 1999 to 2007. Lincoln Financial purchased Jefferson Pilot for roughly $7.5 billion in cash and stock in a transaction that closed in 2006. At the beginning of this year we wrote about [...]

mbrohawn2017-05-01T12:15:39-05:00May 1st, 2017|Cost of Insurance (COI) Increase, Current Assumption Universal Life, General Interest, News|0 Comments