• The "unbundling" of services and other product differences  between Universal Life and Ordinary Life cause current literature to be inapplicable, as well as insufficient, for Universal Life. (p217)
  

1984 - AAA - American Academy of Actuaries - STATEMENT 1984-32, Academy Journal 

• Broken down to its simplest basis, Universal Life has eliminated the concept of "plan of insurance"..... 

-- Christian J. DesRochers

1983 - SOA - Universal Life, Society of Actuaries - 24p

Universal Life is a ratebook and more, all by itself.

• If you say you have Universal Life, you in fact have more of a product than you probably have in your current portfolio at the present time. 

--  Mr. Eason

1983 - SOA - Individual Life Insurance, Society of Actuaries - 22p

Universal Life

• Unlike adjustable life, where a current plan is defined, but is subject to change, a universal life policy at any time has only a "minimum" and a "maximum' plan....
• The adoption in 1983 of the Model Regulation for Universal Life provided recognition that these policies could be configured as whole life policies.

1989-1 (p662), NAIC Proceedings

RE: Universal Life

• If that is the case, how does an agent program somebody?
• How does he tell a person what he needs to pay to keep his premiums level or to have paid-up insurance at age 65?

--  Allan W. Sibitroth

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

• Maybe he is not getting all the disclosure he needs, as far as the continuing benefit is concerned, when the interest rates change from that illustrated. 
• The interest assumption is one that we really struggled with.

--  Gary P. Monnin - (Senior Vice President, Chief Actuary of American Founders Life Insurance Company)

1982 - SOA - Universal Life (rsa82v8n111), Society of Actuaries - 14p