...universal life and investment-type products (collectively, investment-oriented products)..... (p53)
Update of Actuarial Assumptions
The life insurance companies review and update actuarial assumptions at least annually, generally in the third quarter. Assumption setting standards vary between investment-oriented products and traditional long-duration products. (p123)
2018 - AIG Annual Report
GGD-90-31 Tax Policy: Tax Treatment of Life Insurance ... - GAO
The Life Insurance Industry in the United States - World Bank ...
The Changed Nature of the Insurance Industry
"In 1980 the life insurance industry was 150 years old. In 1990 . . . [it] was ten years old." This is how Gary Schulte (1991, p. 88), a Senior Vice President of Executive Life of California, summarized the impact on the life insurance industry of the growth in investment-oriented products in the 1980s.
At the beginning of the decade, investment-oriented products were a promising sideline in an industry whose main product was still insurance against abnormally early or late death.
By the end of the decade, the industry was probably generating over half its annual revenue from investment-oriented products, which typically featured high fixed or quasi-fixed rates of return and little or no insurance aspect.
1992 - SPDAs and GICs: Like Money in the Bank? (p. 2). Richard M. Todd, Neil Wallace - FRB Quarterly Review