Q: Who Created Universal Life Insurance?

  • WHO CONCEIVED THIS INSTRUMENT? – Universal Life Insurance
  • Subject to responsibility being accepted (and documented) by somebody else, we hold that the father is George R. Dinney, and the place of conception Winnipeg, Canada.

1981 – SOA – Who Conceived this Instrument? – The Actuary, Society of Actuaries – 2p

  • 1981 0511 – Ventura County Star / NYT – ‘Universal’ insurance making gains – newspapers.com/article/ventura-county-star/146622810/
    • The Life Insurance Co. of California was the first to sell the universal policies, in January 1979. Its name later was changed to Hutton Life.
  • Mr. LeVita contributed many original ideas to the life insurance business through the papers he published in the Conference Proceedings including his concept of a flexible plan of insurance which is now widely marketed as universal life insurance.

1986 – Obituary – SOA

  • When the brokerage industry invented universal life insurance, the insurance industry did not cry foul it embraced universal life concept and improved on it.

2008 0916 – SEC – Subject: File No. S7-14-08 –  From: James P. Banks – [link]