Universal Life

Universal Life – Federal Government Universal life insurance generally refers to a whole life policy with flexible premiums, adjustable death protection, and a cash value accumulated at current rates of interest. Universal life insurance offers both insurance protection (in effect, term insurance) and savings, i.e., the ability to accumulate a cash value in the policy…

Who Created Universal Life Insurance? One Question: Who would you say created Universal Life Insurance? George R. Dinney Maurice H. Lavita Professor Mehr other soa guy WHO CONCEIVED THIS INSTRUMENT? 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,…

DIY – Do It Yourself 28 Oct 1981, Wed Journal and Courier (Lafayette, Indiana) Newspapers.com The insurance function also saw slightly more DIY products, giving households greater control. These new products included universal- and variable-life plans. 2010 – AP – A Brief Postwar History of US Consumer Finance, Harvard Business School – 53p Universal Life…

Starters – Why is Universal Life Insurance sometimes called Whole or Permanent? Universal Life Insurance Model Regulation Universal Life as Adjustable Life (Walter Chapin’s Version) Company Taxation – 818(c) That is definitely an important consideration. Many companies are selling these plans <Universal Life> side by side with permanent insurance plans. — MR. SIBIGTROTH 1979 – FUTURE TRENDS…

Starters – Universal Life Descriptions Permanent Whole Cash Value Dynamic / Any Plan of Insurance Term Adjustable None of the Above for more Universal Life – Descriptions 4 – Broken down to its simplest basis, Universal Life has eliminated the concept of “plan of insurance”….. — Christian J. DesRochers 1983 – Universal Life, Society of Actuaries – 24p…

Universal Life with Secondary Guarantees (ULSG) The Universal Life contract with secondary guarantees has been one of the most controversial life insurance products introduced in the United States. 2014 04 – Model Validation for Insurance Enterprise Risk and Capital Models, Sponsored by CAS, CIA, SOA Joint Risk Management Section, prepared By Markus Stricker, Shaun Wang,…

Universal Life Insurance does not “Fit” into the existing regulatory framework This regulation is designed to address those areas where universal life insurance does not “fit” into the existing regulatory framework. (p1) NAIC – Universal Life Insurance Model Regulation – MDL-585 – 22p New York reports that they have determined that Section 216 and 208,…

Q: Universal Life – Who wanted this? In more modern times, insurance products became considerably more complex (e.g., universal life type products with various forms of guarantees, various forms of renewable term, etc.). These products arose from a significant rise in interest rates in the early 1980’s and a wave of consumer demand for products…

Universal Life – Commissions Mr. Douds – I know that one of the problems with the new products when they were first introduced was that agents didn’t feel that they paid high enough commissions, and since that time, companies interested in marketing those products have tried to adjust their compensation plans accordingly to make their…

Universal Life – NAIC – Regulators 1980s … which falls into this category is a derivative of the Universal Life Policy first described by James C. H. Anderson… 1980-1, NAIC Proc. The completely flexible life insurance plans are sometimes called “universal life insurance plans. 1980-2, NAIC Proc. … (sometimes referred to as “Total Life Plans”…

Universal Life – Federal Government

Q: Who created Universal Life Insurance?

DIY – Do It Yourself

Q: Why is Universal Life Insurance sometimes called Whole or Permanent?

Start – Universal Life Descriptions

Universal Life with Secondary Guarantees

Universal Life Insurance does not “Fit” into the existing regulatory framework.

Q: Universal Life – Who wanted this?

Universal Life – Commissions

Universal Life – NAIC / Regulators