ACLI proposes VL illustration format. (American Council of Life Insurance, Variable Life Insurance Registration Form)

National Underwriter Life & Health-Financial Services Edition, February, 1993 by Brostoff, Steven

The American Council of Life Insurance (ACLI) is proposing that the life insurance industry should be required to tailor a prospectus to the individual information pertinent to a prospective policyholder and has submitted its suggested Variable Life Insurance (VLI) Form to the Securities and Exchange Commission (SEC). The SEC had requested, in 1991, that the ACLI establish a task force to revise standard VLI prospectus illustrations which often led applicants to erroneous interpretations. Clients will be able to compare different company proposals if the ACLI proposal is adopted.

WASHINGTON - The American Council of Life Insurance has developed proposed Variable Life Insurance Registration Form that would require insurers to make personalized illustrations available to...

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