The standard discloses. Someone still has to ask.

It started as a sales presentation. Something that commissioned salespeople could use to sell life insurance. A marketing piece if you will. And it evolved to what it is today. An educational approach as a first step to assisting a consumer in understanding what life insurance is. As the regulatory environment evolved so did the requirement to put the consumer’s interests first… so it seemed obvious the next step was providing advisors with the presentation material they need first and foremost, the information the consumer needs to make an informed decision about whether it makes sense for them to allocate a portion of their wealth to life insurance.

My daughter is a scientist. She does systematic reviews for a living. Her work is not to repeat the experiments — it is to ask whether the evidence being cited actually supports the claim being made on it. A great deal of science exists to back a marketing conclusion, and the gap between what a study found and what is asserted on its strength is where she spends her time. That gap only becomes visible because of what has to be on the page. Reporting checklists govern what a paper must state: how the study was designed, how many subjects, what was measured, what was found and with what precision. The checklist makes no claim that anything works. It guarantees only that a reader can see well enough to judge whether the conclusion follows.

For most readers the closer reference is GAAP.