The near-collapse of Equitable Life shocked not just the firm's policy holders, but the whole life insurance industry. Now the report of Lord Penrose has laid open what went wrong. Equitable Life was promising its policyholders more money than it actually had for more than a decade, according to one of the most striking findings in the Penrose report.
Where Equitable Life went wrong?
http://news.bbc.co.uk/2/hi/business/3547441.stm
NTUC Income is not like Equitable Life
http://tankinlian.blogspot.com/2008/05/ntuc-income-is-not-like-equitable-life.html
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