Universal Life - Whole Life or Any Plan - History Rewritten
- Universal Life is not well understood and part of the mystery about it may well be due to a failure in my communication......
- .......Universal Life was developed in 1962 as a generic plan, which means that it subsumes all other life insurance products.
1987 - Article - The Search for New Forms of Life - G. R. Dinney
WHO CONCEIVED THIS INSTRUMENT? - Universal Life
- 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
WHO BROUGHT IT INTO THE INSURANCE WORLD? - Universal Life
Quoting further from Mr. Dinney's answer to our letter:
- In the mid-1960's I explained the plan to Thomas P. Bowles.
- In 1975 Mr. Bowles' associate, James C. H. Anderson, made a singular contribution to the technical development of modular product in his paper, 'The Universal Life Insurance Policy,' to the 7th Pacific Insurance Conference in California."
1981 - SOA - Who Conceived this Instrument?, The Actuary, Society of Actuaries - 2p
- In the 1970s and 1980s, life insurance companies introduced two variations on the traditional whole life product: universal life insurance and variable universal life insurance. (17p)
2010 - III - Insurance Handbook A guide to insurance: what it does and how it works - 205p