New Products and Special Markets

A. Modern computers make it feasible to consider marketing a flexible policy under which the premiums and benefits could be changed to meet the changing needs of the policyholder.

 --  Ardian C. Gill

• Computers may make it feasible to produce a highly flexible policy with benefits and premiums that vary with the policyholder's whim.
• Whether it is desirable to do so is another question.
• The truth probably is that the general public neither needs nor wants a great deal of flexibility.
• Any attempts on our part to anticipate his changing needs and to build into our policies the necessary flexibility may well be futile for the run-of-the-mill policyholder.

1967 - SOA - Individual Life and Health Insurance, Society of Actuaries - 62p