Premiums and Benefits - How Universal Life Works - Concept
- 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
- In fact, it is accurate to describe Universal Life as a generalized version of the actuarial formulas underlying traditional life insurance products.
- In other words, it is possible to produce any traditional plan of insurance from the generalized formulas underlying universal life. p448
-- Alan Richards, president and chief executive officer of E. F. Hutton Life Insurance Co.
1983 0510, 0511 and 0728 - GOV (House) - Tax Treatment of Life Insurance - [PDF-991p-GooglePlay,
- 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. (p662)
1989-1, NAIC Proceedings