Insurance Sales to Military Personnel: Additional Actions Needed to Prevent Improper Life Insurance Sales and Pay Allotment Transactions

Abstract

Concerns over unsuitable insurance products and inappropriate sales practices directed at servicemembers have prompted legislative and regulatory changes to address these concerns. Congress asked GAO to assess oversight efforts by the Department of Defense (DOD), the National Association of Insurance Commissioners (NAIC), and state insurance regulators. In this report, GAO (1) describes actions to improve oversight of life insurance sales to servicemembers and the extent to which they have been completed, and (2) identifies and analyzes factors that contribute to apparent ongoing inappropriate insurance sales. To complete this work, GAO visited five military facilities, analyzed DOD pay records, reviewed DOD and state enforcement actions, and spoke with DOD, state regulatory, and insurance industry officials.

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Document Details

Document Type
Technical Report
Publication Date
May 01, 2009
Accession Number
AD1173776

Entities

People

  • Angela Pun
  • Barry Kirby
  • Emily Chalmers
  • Farah Angersola
  • Jack E. Edwards
  • Jennifer Schwartz
  • Marc Molino
  • Patrick Ward
  • Steve Ruszczyk
  • Tania Calhoun
  • William Bates
  • William R. Chatlos

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Active Duty
  • Commerce
  • Congress
  • Department Of Defense
  • District Of Columbia
  • Electronic Mail
  • Employment
  • Governments
  • Great Lakes
  • Information Exchange
  • Law
  • Military Facilities
  • Military Personnel
  • National Governments
  • Naval Shore Facilities
  • Personnel Management
  • State Law
  • United States
  • United States Government
  • Websites

Fields of Study

  • Political science

Readers

  • Government and Public Administration Law.