• The 1980s ushered in the era of universal life policies.
  • While such universal life policy features as flexible premiums, current and guaranteed cost of insurance scales, guaranteed maturity funds and guaranteed maturity premiums added a few wrinkles to the calculation process, the fundamentals of generating policy reserves remained fairly intact.
  • In contrast, today’s products have become much more complex.

2013 01 - CIPR / NAIC -33p