Theodore Affleck, CLU Experience

Experience: 24 years in the home office of Connecticut Mutual (MassMutual after the 3/1/96 merger)

   Management

• Managed Competitive Analysis & Product Support Department for 12 years
• Member of MassMutual’s New Product Steering Committee
• Member of Connecticut Mutual’s Interest Rate Review Committee
• Connecticut Mutual’s representative to Northeast Pension Directors & ACLI Task Force on Small Pension Plans
• Charter Member, former President of Life Insurance Sales Support Study Group
• Created and maintained databases for term, par whole life, universal life, variable life, survivorship life

   Expert Testimony

• Provided deposition testimony as Home Office expert (alleged misrepresentation of dividend scale, alleged improper disclosures on sales illustrations)

   Marketing & Training

• Conducted life insurance product training sessions for agents/brokers
• Provided platform presentations and workshop seminars at company conferences and regional meetings
• Managed marketing launch of several new life insurance products
• Authored regular monthly column for Connecticut Mutual’s newspaper, Blue Chip News
• Presented regular segment on Connecticut Mutual’s monthly Video Newsfile

   Life Insurance Product Litigation

• Provided consulting services in two class action lawsuits alleging improper sales practices
• Recommended settlement alternatives adopted in national class action lawsuit
• Testified at trial alleging egregious replacement and sales misrepresentation
• Researched underwriting classifications applicable to juvenile insureds
• Discovered undisclosed connection between optional benefit and significant charge
• Served as Faculty Panelist at 2004 ALI-ABA Conference on Life Insurance & Financial Services Litigation
• Deposition testimony and/or expert analysis in over 50 cases, including -
• Insufficient disclosure of impact of substandard rating on variable universal life policy performance
• Allegations of insufficient disclosure of modal premium charges
• Misrepresentation of risk factors that affected performance of UL contract

   Marketing, Training, & Sales Support

• Drafted content for new long-term care product sales brochure

   Product Design & Development

• Drafted content of product analysis offered by actuarial consulting firm
• Developed “Monte Carlo” testing program to assess risk of illustrated variable life premiums failing to maintain coverage

   Professional Articles

• Authored 2 articles for Journal of Financial Service Professionals – “Lapsing on Surrender Value: Counterintuitive to Most Perceptions” (May, 2006) & “A Revised Illustration for Variable Universal Life: The Right & Proper Thing to Do” (July, 2007) Articles/Resources