Military Personnel DOD Needs Better Controls over Supplemental Life Insurance Solicitation Policies Involving Servicemembers
Abstract
DOD does not know the extent to which life insurance agents violate on installation commercial solicitation regulations and does not activelydisseminate information on all confirmed violations to other parts of DOD or to state insurance regulators. GAO found that violations are occurring. For example, in responses to GAOs 2004 survey of personal financial management program managers, one-quarter said prohibited practices such as misleading sales presentations had occurred occasionally or routinely on their installations in the prior 12 months. Also, between October 2001 and October 2004, DOD revoked agents on-installation solicitation approval at least 26 times. The reason DOD does not have complete data on violations is that it does not have adequate mechanisms for ensuring the systematic tracking of violations. The dissemination problem is attributable to a lack of oversight by the DOD policy office and an ambiguity in its guidance. DOD cannot develop an effective and efficient process for curbing violations without maintaining accurate data on the number, types, and severity of violations and disseminating confirmed violation data to relevant parties.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 29, 2005
- Accession Number
- AD1157256
Entities
People
- Derek B. Stewart
Organizations
- United States Government Accountability Office