Universal Life is Easy to Understand

  • .... I still feel conceptually that Universal Life is:
    • much easier to explain,
    • it is much easier for the consumer to understand,
    • and I believe it will prove to be much easier to administer if for no other reason than you do not have to reissue every time there is a premium change.

--  David R. Carpenter

1979 - SOA - Future Trends and Current Developments in Individual Life Products (rsa79v5n44), Society of Actuaries - 24p 

  • I have a comment which you can respond to if you wish.
    • Universal Life might well be a more appropriate product than Adjustable Life for the very sophisticated, very high premium, as you mentioned, product or sale.
    • However, I think that there is a major segment out there where Universal Life Just would not fit.
    • Universal Life seems to be taking a giant step forward.
    • Adjustable Life may be a reasonable middle ground which our agents and our potential policyholders can understand a little bit better than the Universal Life concept at the present time.

--  Spencer Koppel

1979 - SOA - Future Trends And Current Developments In Individual Life Products, Society of Actuaries, rsa79v5n44 - 24p