Universal Life is not Permanent

Universal Life is not Permanent

• Jesse M. Schwartz: Why are people so reluctant to call Total Life permanent insurance?
• Myron H. Margolin: Universal Life type products are, I suppose, permanent.
  • It is a semantic question whether they are permanent life or not, but clearly they are not the traditional cash value products as we have known them…

1981 – SOA – The Future of Permanent Life Insurance (rsa81v7n36), Society of Actuaries – 22p

• MR. SILKES: Has any decision been made regarding the 818(c) deduction and the product that is known as Irreplaceable Life?
• MR. BRITTON: It would seem that Irreplaceable Life wouId have more of a chance of getting a permanent 818(c)2 deduction than Universal Life would, because it is a permanent product (at least some of the later versions).

1983 – SOA – Individual Life Insurance, Society of Actuaries – 22p