In addition, a revised Buyer's Guide has been developed and is proposed for adoption as part of the new model regulation. The revised draft includes annotations indicating the source and background of the changes being proposed to the current model regulation.
This proposal would incorporate the following new features into the model regulation:
2. A special plans section to accommodate the unique features of nontraditional plans such as universal life insurance.
1983-4, NAIC Proc
1988-1, NAIC Proceedings - 4a Special Plans - Universal Life -Review Regulat.ors Problems with Model Adopted (Universal and Other New Plans Task Force)
1974-2 4. LIFE, ACCIDENT, AND HEALTH (C) COMMITTEE; Life Insurance (C3) Subcommittee - variable amount plans. 4. Variable life. 5. Other special plans such as: Jurisdiction a. Split life b. Deposit Term.
1981-1 NAIC Proc.
4. Special Life Insurance Plans
This topic corresponds to the topic "Varying Gross Premium Plans" which was
included in the June 1980 report of the (C4) Technical Subcommittee.
It should be noted that some of the matters mentioned under the "Varying
Gross Premium Plans" topic in the June 1980 report would be resolved by the
recommended revision of the Standard Valuation Law and the Standard
Nonforfeiture Law for Life Insurance. It should also be noted that the (C4)
Technical Subcommittee now intends to consider Single Premium Life Plans
with Specified Minimum Death Benefits, as one of the "Special Life Insurance
Plans". The topic also includes varying premium plans such as Adjustable Life
Insurance Plans, Completely Flexible Life Insurance Plans (sometimes
referred to as "Total Life Plans" or "Universal Life Plans") and Indeterminate
Premium Life Insurance Plan