1979 - AP - The Effects of Risk Reduction Inherent in Universal Life Insurance, by William C. Scheel
1981 - AP - The Effects of Risk Reduction Inherent in Universal Life Insurance: Comment, by Michael L. Smith, The Journal of Risk and Insurance, Vol. 48, No. 4 (Dec., 1981), pp. 674-681 (8 pages) - JSTOR
2 The origin of the term and the concept is disputed. Scheel traces it (10, p, 521 to a paper presented by J.C.H. Anderson at the Seventh Pacific Insurance Conference and later published but G.R. Dinney also claims its origination [2, p. 301].
[Bonk: paper = 1975/1999 - SOA - The Universal Life Insurance Policy, by James C. H. Anderson, Society of Actuaries - 10p]
And as an historical footnote. a company known as the Universal Life probably was the first to offer guaranteed cash surrender values [3, p. 21].
1979 - AP - The Effects of Risk Reduction in Universal Life Insurance, Part II, by William C. Scheel