New rules, low interest rates, court cases and IRS decisions all affected the insurance industry in 2012 and will continue to have repercussions in 2013
The insurance industry will continue to feel the effects of various developments that took place in the past year. Low interest rates will impact insurers, in-force policies and new product pricing. Revised reserving rules on no-lapse policies may cause insurers to abandon the no-lapse market altogether. In addition, some court cases dealt with the issue of phantom income from a lapsed life insurance policy and a private letter ruling clarified what happens when an insurance policy is sold ...
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