Financial services reform plan includes insurers

[calebdylan]

Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd, D-Conn., made the proposals in financial services reform legislation he proposed Monday.The Restoring American Financial Stability Act of 2010 would establish an Office of National Insurance in the Treasury Department to monitor the insurance industry and coordinate international insurance issues.

[stevenricherd]

Most universal life policies also have a decreasing surrender charge which is deducted from the cash value if the policy is surrendered. This feature allows the insurance company to recover certain expenses which are associated with the issue of the policy. The surrender value is the cash value less any applicable surrender charge. Universal life insurance isn't for everybody.