Variable Universal Life - (VUL)
- The product is likely to be sold by sophisticated agents and financial planners.
- Many of these agents and planners are accustomed to similar investment features in annuities and will be the first to make the transition to variable universal life.
- Another distribution source for the product is stockbrokers.
-- Zafar Rashid
1985 - SOA - Variable Universal Life Insurance, Society of Actuaries - 22p
When the product was launched, SEC ruled that one was allowed to illustrate a variable life product assuming a growth rate of only 8 percent in the underlying funds.
- The resulting cash values were not much better than the old participating product.
- When Monarch Life filed their prospectus, they managed to persuade the SEC that 8 percent was out of date and that 12 percent should be used.
- Everybody used 12 percent, and the resulting variable product values were much better than those under the traditional participating product.
-- Michael R. Tuohy
1985 - SOA - Variable Universal Life Insurance, Society of Actuaries - 22p
- Everybody keeps referring to this product as variable universal.
- This is flexible premium variable life insurance.
- We are not talking about variable universal.
-- Joseph O. North
1985 - SOA - Variable Universal Life Insurance, Society of Actuaries - 22p