Stranger Originated Annuities

American International Group - Wikipedia, The Free Encyclopedia
Insurance annuities, mutual funds: Revenue: US$ 64.237 billion (2011) Operating income: US$ (1.065) billion (2011) Net income: Circa 2010 the WSJ reported that a family sued AIG for alleged complicity in a 'stranger-originated life insurance' scheme, ... Read Article

NAIC Meeting Notes - PwC: Audit And Assurance, Consulting And ...
Continued work on a draft bulletin on Stranger Originated/Owned Annuities. adopted collateral reduction recommendations (page 20) The Annuity Disclosures Working Group held many interim conference calls and finalized its Annuity Disclosures Model Regulation in ... Access This Document

NAIC Update Fall 2010 - Deloitte | Audit, Consulting ...
Included the fate of Stranger Originated Annuities transactions (STOA), which have been a hot topic at the NAIC as well as at the National Conference of Insurance Legislators (NCOIL). Other highlights of the Orlando meeting included ... Return Doc

BHM-#2197510-v1-DRI Walters Rescission And STOLI 3
Denial of benefits for life insurance, annuities, and health insurance products. Jason also has extensive experience defending insurers in litigation filed by agents sometimes related issue of stranger-originated life insurance (“STOLI”). II. Rescission ... Content Retrieval

What You Should KnoW Before You Sell Your
Stranger Originated Life Insurance • A Consumer Guide to Annuities you can get a copy of any of these publications and others by: • downloading it from our web site, www.mdinsurance.state.md.us, on the Consumer Publications page; ... Read Content

Longevity Mortality Strategies - Penn: University Of Pennsylvania
States12 disavow Stranger Originated Life Insurance. This paper will use the following terms to provide a consolidated nomenclature where products as annuities and guarantees on returns linked to Life Expectancy Reports. The ... Retrieve Full Source

STOLI Alert March 2007 - NAIFA - National Association Of ...
Are concerned about the practice called stranger-originated life insurance (STOLI). Also known as speculator-initiated NAIC Life Insurance and Annuities (A) Committee proposal that contains numerous exceptions to a five-year moratorium ... Read Document

BULLETIN NO. 2010-02 - Louisiana Department Of Insurance
STRANGER ORIGINATED ANNUITY TRANSACTIONS JULY 6,2010 The Louisiana Oepartment of Insurance (LOOI) Life and Annuities, Louisiana Department of Insurance, at (225) 342-1258. Baton Rouge, Louisiana this 6th day of July 2010 . .. ... Read Content

Ppplied For In All Applicable States. - Federation Of ...
He co-chaired the Stranger Originated Life Insurance Task Force of the American Council of Life Insurers. He is also a former Board member Summit on Annuities, STOLI,and Marketing to Seniors *A CLE Program at the NAIC Winter National Meeting* ... View Document

Examination Content Outlines TEXAS
D. Annuities 1. Single and flexible premium 2. Immediate and deferred 3. Fixed and variable 4. Indexed Stranger-originated life insurance (STOLI) 6. Investor-originated life insurance (IOLI) C. Delivering the policy 1. When coverage begins 2. ... Get Content Here

Spring 2011 Insurance BusI Ness & Regulatory NeWs
Xplore the issue of stranger originated/ owned annuities, how these transactions may interact with insurable interest laws and the impact of this activity on consumers with respect to any appropriate regulatory action in the form ... Access Full Source

State Of Connecticut
Stranger Originated/Owned Annuities Subject of NAIC Public Hearing . HARTFORD, CT - The National Association of Insurance Commissioners (NAIC) held a public hearing last week on the emergence of Stranger Originated/Owned Annuities. ... Fetch Content

District Court Rules On Stranger-Initiated Annuity Transactions
Insurers’ rescission claims against the investor-owners of the annuities, but allowed fraud and certain interest has often been asserted by insurers in somewhat similar cases seeking rescission of stranger-originated life insurance (STOLI) policies. ... Get Doc

Stranger-Originated Life Insurance: - SelectedWorks | Create ...
Stranger-Originated Life Insurance: How the NAIC Tamed an Old Dog with a New Trick I. INTRODUCTION 2. II. the NAIC Life Insurance and Annuities (A) Committee received testimony that was both favorable and unfavorable to the five-year ban. ... Document Retrieval

Secondary Market Transactions The Titles Of Our Articles ...
April 2010..Stranger-Originated Life Annuities; An Interesting Phone Call about Spinlife ..10 _____ March 2010..Two Related Lawsuits Illustrating Potential Consequences of Spinlife Arrangements ..10 ... Access Doc

STAT STRANGER-ORIGINATED ANNUITY TRANSACTIONS: Migration Of ...
Deferred variable annuities > with guaranteed minimum benefits or riders > on the lives of terminally-ill annuitants > for the gain of stranger investors. Stranger-Originated Annuity Transactions | July 13, 2010 Reasonable Steps to Take > ... Return Doc

The Latest Developments In STOLI And Other Schemes
E. Stranger-originated annuities (STOA) As the life settlement industry has grown, it has also expanded beyond traditional life insurance to include annuities. Stranger-originated annuities (STOA)—also known alternatively as stranger-originated life ... Fetch This Document

Life Insurance - Wikipedia, The Free Encyclopedia
Annuities. Main article: Life annuity. An annuity is a contract with an insurance company whereby the insured pays an initial premium or premiums into a tax-deferred account, which pays out a sum at pre-determined intervals. Stranger originated. ... Read Article

STRANGER-ORIGINATED ANNUITY TRANSACTIONS NAIC SAMPLE BULLETIN
STRANGER-ORIGINATED ANNUITY TRANSACTIONS NAIC SAMPLE BULLETIN To: All Insurers Selling Life Insurance or Annuities in [State] From: [Commissioner, Director, Superintendent] Date: [Insert Date] Re: Protect Against Stranger-Originated Annuity Transactions Insurance ... Visit Document

Stranger Originated Life Insurance - Financial Careers - All ...
Some stranger originated life insurance schemes involve variable annuities, which are sold by insurance companies primarily as investment vehicles. Thus, there often is no scrutiny into the health of the purchaser, called an annuitant, ... Read Article