• Referring to Mr. Hutchison's comment about the self-induced cash value fetish I wonder if he is really referring to the self-induced guaranteed cash value fetish.
• Many years ago life companies in the U.K. offered a level premium whole life policy without cash value, as Mr. Gustafson has described for us.
  • The distasteful practice of selling those policies in the open market has not occurred for many, many years, but yet the British companies happily offer non-guaranteed cash value.
  • They do, however, offer a cash value, and that is an essential distinction.

--  Nicholas Bauer

1980 - SOA - Treatment of Existing Life Insurance Policyholders in Times of Rapidly Changing Economic Conditions, Society of Actuaries - 16p