Monday, March 21, 2005

NAIFA Frontline: March 15, 2005 "NCOIL Adopts Resolution Opposing IOLI-Type Transactions

NAIFA Frontline: March 15, 2005: "NCOIL Adopts Resolution Opposing IOLI-Type Transactions
The National Conference of Insurance Legislators (NCOIL) recently adopted a resolution opposing efforts to expand state insurable interest laws to permit third-party entities to purchase life insurance on the lives of unrelated individuals (referred to as investor owned life insurance or IOLI). There was virtually no opposition to the resolution by members of the NCOIL Life Insurance Committee, where the resolution was introduced and discussed in detail. The resolution was initiated and drafted by NAIFA, AALU and the ACLI and has been under consideration by NCOIL since last fall."

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