Additional Actions Needed to Mitigate Risks of Unsuitable Life Insurance Sales to Junior Enlisted Service Members
Abstract
We initiated this audit in response to the requirements of Public Law 109-290, "Military Personnel Financial Services Protection Act," September 29, 2006. The law requires the DoD Office of the Inspector General to conduct a study on the impact of DoD Instruction 1344.07, "Personal Commercial Solicitation on DoD Installations," March 30, 2006, and the reforms included in the law on the quality and suitability of sales of securities and insurance products marketed to members of the Armed Forces. See Appendix A for a discussion of the audit scope and methodology and prior coverage on this issue. This is the third in a series of reports (see Prior Coverage in Appendix A) addressing the reforms included in the law on the quality and suitability of sales of securities and insurance products marketed to members of the Armed Forces. On December 30, 2010, we provided briefing charts summarizing our tentative findings to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 23, 2011
- Accession Number
- ADA547485
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense