• Richard F. Fisher sums up his viewpoint thus :
  • Universal Life is marketed as a tax-free money market fund, or other short-term investment vehicle, with term insurance available to be purchased from the fund.
  • Current high short-term yields are illustrated for very long periods of years.
  • Continuance of the term piece has all the problems of continuance of term insurance purchased in any other way. 
  • The product will result in term coverages that lapse at high ages, disappointed beneficiaries, tax questions.

1981 - SOA - More on Universal Life, The Actuary, Society of Actuaries - 2p