New York eyes IUL product
September 24, 2014 by Arthur D. Postal
IUL marketing — and the accuracy of claims within — have come under the eye of the NYDFS.
The life insurance industry is split over the accuracy of claims about the value of indexed universal life insurance (IUL) and whether the illustrations used to market such products provide adequate data as to the potential risk of the product meeting the expectations of those buying these instruments.
The issue came to light in an article in the Wall Street Journal Monday which said that New York state’s financial watchdog has launched a probe into the promotion of IUL insurance and is seeking data on the number of carriers doing business in New York and the illustrations used to market such products. CLICK HERE TO READ