Universal Life
Start – Universal Life – Premium
Start – Universal Life – Premium Also, because most people presume that if you pay your premium continuously, your policy will remain in effect, quite a few people had a hard time understanding how or why the policy would terminate in policy year 31. This was simply foreign to their way of thinking. 1990-1A, NAIC…
Read MorePolicy Information for Applicant – Universal Life Policy – NAIC
Policy Information for Applicant – Universal Life – NAIC Focus Groups 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary, — [BonkNote] — 10p 1993 – NAIC – Policy Information for Applicant – Universal Life Policy – 3p Life Insurance Disclosure Model Regulation – Appendix D Located in: 1993 0525 – GOV (Senate)…
Read More1982 0713 – Chicago Tribune – Universal Life Insurance Trapped Between IRS, Congress
1982 0713 – Chicago Tribune – Universal Life Insurance Trapped Between IRS, Congress
Read MoreUniversal Life – Evolution
Universal Life – Evolution 1980-1984 New York reports that they have determined that Section 216 and 208, (a) and (b), and perhaps other sections of their law, prohibit the issuance of universal life type products. Their law is currently being amended to permit such policies. 1982-2, NAIC Proceedings Chalke and Davlin point out that a policy…
Read MoreUL – Premium
UL – Premium COMMON / PARADIGM Media Universal life insurance, like whole life insurance, is a type of permanent life insurance policy that accumulates tax-deferred cash value. The policy stays in effect for as long as you remain alive and pay the premiums. https://www.usnews.com/360-reviews/life-insurance/universal-life-insurance PROBLEM? Legal Case “John <Plaintiff – Policyowner> contacted Glasgow <Agent>, who had…
Read More1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary – 10p
1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary – 10p 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary — [BonkNote] — 10p 1993 – NAIC – Policy Information for Applicant – Universal Life Policy – 3p Life Insurance Disclosure Model Regulation…
Read MoreQ: Is it Accurate to Call Universal Life a Whole Life Policy…..Maybe Not….
Q: Is it Accurate to Call Universal Life a Whole Life Policy? Maybe…Maybe Not…. Who refers to Universal Life as Whole? As long as you pay the premium Permanent insurance is a term used only by the industry – not by consumer educators. We would prefer – Life insurance comes in two basic types: Term…
Read More1999 – SOA – The Next Generation Universal Life – Society of Actuaries – 30p
1999 – SOA – The Next Generation Universal Life – Society of Actuaries – 30p 1999 – SOA – The Next Generation Universal Life, Society of Actuaries — [BonkNote] — 30p Daniel F. Byrne, M Financial Group From a distribution perspective, I think one of the challenges that face us in UL is the servicing…
Read MoreServicing
Servicing From a distribution perspective, I think one of the challenges that face us in UL is the servicing of UL. Flexible premium, high-degree-of-service UL products have little or no renewal compensation paid if there’s no premium paid. — Daniel F. Byrne 1999 – SOA – The Next Generation Universal Life, Society of Actuaries – 30p First of…
Read MoreFunded Plans of Life Insurance (Universal Life) and Annuities – NAIC
Funded Plans of Life Insurance (Universal Life) and Annuities – NAIC Funded Plans of Life Insurance (Universal Life) and Annuities (Later Changed to Universal Life and Related Plans of Life Insurance and Annuities) A. General Features The Technical Staff Actuarial Group discussed the appropriateness of the name given to this topic on the 1982-1, NAIC…
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