Life of Virginia
- Its fundamental "mechanics" are indistinguishable from those underlying traditional life insurance products.
- [Bonk: Its = Universal Life]
-- Samuel H. Turner, President - The Life Insurance Company of Virginia
1982 - Journal of Insurance Medicine - 1p
TEFRA has also assisted Universal Life sales considerably and will continue to do so.
- As the Life of Virginia ads say, "Universal Life is the only product specifically approved by Congress."
-- Randall P. Mire
1983 - SOA - Universal Life (rsa83v9n32), Society of Actuaries - 22p
- People
- Bruce E. Booker
- Randall P. Mire
- Samuel H. Turner
- Merged into Genworth
- The Universal Life product is viewed by most as an evolutionary product, not as a revolutionary product, in terms of its design and structure.
- Consider some of the characteristics of flexible premium annuities: flexible premiums; disclosure of loads and expense charges; crediting of current interest; and annual reports.
- Also consider features of the Minnesota Mutual Bankers Life "Adjustable Life" product like the adjustable face amounts, the ability to make unscheduled premium payments, and prospective nonforfeiture compliance demonstrations.
- Combine these features and you essentially have a Universal Life contract."
-- Samuel H Turner, Life of Virginia
1981 - SOA - Universal Life (RSA81V7N412), Society of Actuaries - 16p
