Monte Carlo Simulation and Actuarially Certified Policy Standards Analysis
In all fair types of evaluation, a comparison must be made to a known, objective (non-subjective), quantitative measurable standard or benchmark. Can we make such a comparison with non-guaranteed life insurance and what do we use as the policy standard or benchmark model? To answer this question, let’s go back and consider the three main pricing components of life insurance policies: That is, the cost of insurance, i.e. the mortality costs; expenses of administration and operation, including startup costs and commissions; and, investment returns, the interest credited to the policy or the earnings of separate accounts.
Adjunct faculty member, College of Business Administration, University of Missouri - St. Louis; adjunct professor, The American College, Bryn Mawr, Pennsylvania; and principal, G. L. Flotron & Associates
Specializing in estate and business planning, executive and employee benefit plans, and the evaluation of nonguaranteed life insurance for trust-owned life insurance policies
Frequent national speaker for professional continuing education programs which include the Heckerling Institute on Estate Planning, National Association of Estate Planners & Councils, Federal Tax Institute of New England, and Society of Financial Service Professionals (FSP)
Wrote or co-wrote numerous publications including New York University Review of Executive and Employee Benefits and Society of Financial Service Professionals publications
Editor, Estate Planning Section Newsletter, Society of Financial Service Professionals
Past president, National Association of Estate Planners & Councils and The NAEPC Education Foundation; Chair Emeritus of the Synergy Summit, national organization and think tank composed of representatives from ten major legal and financial services professional organizations involved in estate planning; past member board of directors, Society of Financial Service Professionals and the Foundation for Financial Service Professionals
Chartered Life Underwriter (CLU®) and Chartered Financial Consultant (ChFC®), The American College; Accredited Estate Planner (AEP®), National Association of Estate Planners & Councils
M.B.A. degree, Washington University John M. Olin Graduate School of Business; B.S. degree in engineering management with concentration in electrical engineering, University of Missouri – Rolla (now Missouri University of Science and Technology)
Can be contacted at glfclu@aol.com
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