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Samples in periodicals archive:
We agree with and worked directly with the ACLI and the NAIC to close the loophole on stranger-initiated life insurance.
The original intention of the committee and its chairman, North Dakota insurance commissioner Jim Poolman, was to prohibit the sale of Stranger-Initiated Life Insurance (SILI), also referred to as Stranger-Owned Life Insurance (STOLI).
The Life Insurance Finance Association and most attendees expressed their concerns about the sale of stranger-initiated life insurance transactions that insurance regulators seek to stop by imposing a five-year ban on the re-sale of life insurance policies in the secondary market.