Universal Life - Who wanted this?

These products <Universal Life etc> arose from a significant rise in interest rates in the early 1980’s and a wave of consumer demand for
products better meeting their needs. (p37)

2020/08 - IMF - UNITED STATES FINANCIAL SECTOR ASSESSMENT PROGRAM TECHNICAL NOTE—INSURANCE SUPERVISION AND
REGULATION - IMF Country Report No. 20/244

WALTER MILLER: Arnold <Dicke> suggested that universal life stemmed from the desire of many consumers to have a product that unbundles the insurance and investment elements.

 

At New York Life, we get a lot of communications from policyowners but we cannot remember one single request for a product that unbundles the insurance and investment elements.

I would like to ask how many people here have received requests for such unbundling from the public. (No hands were raised.)

 

1981 EQUITY FOR EXISTING POLICYOWNERS, Society of Actuaries