ABSTRACT

• Universal life policies were introduced to South Africa in the 1980s. The policies were designed to give the customer increased flexibility but, due to the leveraged effect of investment returns on the risk charges, policies have become unsustainable during a period of low nominal investment returns.
• This paper reviews the progress of these policies, mitigating actions that can and have been taken and reviews the development of this market from a professionalism perspective.

2020 10 - Universal life – a boiling frog problem?, By Paul Truyens and Mike McDougall - Presented at the Actuarial Society of South Africa’s 2020 Virtual Convention
6–8 October 2020 - 32p

• 2014 - South Africa - Treating Customers Fairly in the Financial Sector Draft MCP Framework Amended Jan2015 WithAp6 - 106p