Limited Term Proposal Still In Play

Supporters of the proposal, including Peter Schneider, Primerica’s general counsel, say it would open the field to agents who would be more likely to sell low-cost term life products to low-income and moderate-income consumers.

The NAIC’s market conduct committee is one of the committees that may be looking at the proposal, officials said.

Earlier at the Kansas City, Mo., group’s spring meeting, the producer licensing working group resolved to reject both the term life license proposal and other limited licenses that might be proposed in the future “because the implementation of any new limited line license would not preserve the necessary consumer protections and would not be consistent with the adopted uniform licensing standards of the NAIC,” according to the resolution text.