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Shadow account deficiencies continue to haunt carriers as bottoming out interest rates and minimum reserves take their toll. For whom does the bell toll? Only the shadow knows. But one thing is clear and carriers be warned. Any attempt to bill the policy owner more than the guaranteed premium that was quoted will be met with the greatest producer revolt and the worst PR the insurance industry has ever know since the vanishing premium fiasco of the nineties. Carriers may insist that they have a contractual trigger to bill more than the original guaranteed premium quoted, but they'll either spend more in litigation or lose money as policies come flying off the books for insureds that can pass a medical exam.
ProducersWeb - Life - Milliman survey reveals re-pricing of UL products among insurers
ProducersWeb - Life - Milliman survey reveals re-pricing of UL products among insurers