LifeCycle Policies

  • 1975 0619 – NYT – With “Life-Cycle” Insurance Policies Coverage May Be Changed With Needs (Adjustable Life), by Leonard Sloane – [link]
  • Definition – “Life cycle policy” was first used in the publication “With An Eye To Tomorrow”, a report on the Future Outlook Study published by the Institute of Life Insurance in 1967.  Robert E. Hunstad – <WishList>
  • The major reasons why a life cycle product might not be successful are identified as the difficulty in explaining it to the consumer and the difficulty of providing service to the client.
    • It’s clear from the results that not all of the respondents used the same definition of “life cycle policy”.   
  • Adjustable Life
  • The Adjustable Life policy offered by Minnesota Mutual was first test marketed in 1971.
  • To my knowledge, this policy comes closest to meeting the
    definition of a true “life cycle policy”.

1975 – SOA – Ordinary–New Products, Society of Actuaries – 18p

https://www.actuary.org/sites/default/files/files/publications/journal_1979.pdf

⇒ 4. With An Eye To Tomorrow-Report on the Future Outlook Study – Institute of Life Insurance-Appendix IV  – <WishList>