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. SIBIGTROTH
1979 - FUTURE TRENDS AND CURRENT DEVELOPMENTS IN INDIVIDUAL LIFE PRODUCTS, Society of Actuaries - 24p
1953 - SOA
MR. E. F. ESTES expressed the opinion that (1) because of the comparatively limited actuarial facilities of most smaller companies, the issuance and servicing of plans requiring special quotations create problems out of proportion to their value to the company, and (2) the problem can be greatly minimized if the agency department will see to it that the agent is effectively trained to meet with regular ratebook plans many of the isolated situations which at first appearance suggest special treatment.
AGENCY PROBLEMS--RESULTING FROM SPECIAL POLICIES
"As a result of the declining interest rates during the first ten years, the amount accumulated in the deposit fund after ten years is less than anticipated when the contract was issued, and less than necessary to keep the contract in force for the long term if the original "target premium" assumptions were continued.
Industry experience indicates that policyholders will increase their renewal premium payments in order to maintain their valuable insurance and minimum deposit interest rights."
2004 - "Renewal Premiums and Discretionary Participation Features of a Life Insurance Contract", A Joint Research Project, ACLI/IAA