Universal Life
Universal Life – Newspapers
Universal Life – Newspapers It is commonly known as universal life, though it goes by a variety of colorful names, including CompleteLife (E. F. Hutton), The Challenger (Life Insurance Company of Virginia), and T Plan Life (Transamerica Occidental Life). The Hartford Insurance Group is even so bold as to call it The Solution. 1982 – CS Monitor…
Read MoreQ: Is Universal Life Insurance a Traditional Product?
Q: Is Universal Life Insurance a Traditional Product? Due to the unique nature of universal life products, a number of states have issued guidelines governing the sale of such products. These guidelines address contractual requirements as well as policyholder disclosure procedures. — Leonard E. Odell, ACLI 1981 – SOA – Universal Life (RSA81V7N412), Moderator: Samuel H.…
Read MoreUniversal Life – Premium – Consumer Advocate
Universal Life – Premium – Consumer Advocate The personalized information in the Policy Overview is the premium for the policy – based on information known to the producer or insurer at the time and subject to change based on additional or revised information – and that information can be provided prior to purchase. If an…
Read MoreUniversal Life Insurance – Index
Universal Life – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# B BGA – Benefit Generating Account BGF – Benefit Generating Function Back to top C Copy of Q: How Can Universal Life Insurance Be Classified? Permanent / Whole / Term / Other Back to top D DIY – Do It Yourself Dynamic Back to top F Fixed Premium Universal Life…
Read MoreIAIS – Universal Life Insurance
IAIS – Universal Life Insurance The mismatch between the cash flows from assets and liabilities for traditional products like universal life or fixed annuities is due mostly to interest rate risk. (p18) 2018 – IAIS – [GIMAR] Global Insurance Market Report – 72p iaisweb.org/icp-online-tool/13526-icp-15-investments/ – 15.3.4 Nevertheless, close matching of assets and liabilities is often…
Read MorePremium – Regulator – Universal Life
Premium – Regulator – Universal Life Commissioner Hager of the Universal & Other Plans (A) Task Force stated that there appeared to be disclosure problems with universal life plans and that the identification of these items should be placed on the Actuarial Task Force agenda. Some of the items identified which should be disclosed: (2)…
Read MoreULMR – Universal Life Insurance Model Regulation – MDL-585 – NAIC – Snippets
ULMR – Universal Life Model Regulation – MDL-585 – NAIC – Snippets PAGE 1 Drafting Note: It is the position of the drafters of this regulation that universal life insurance is simply another competing type of life insurance which should be treated, to the extent possible, in the same regulatory manner as other life insurance…
Read MorePremium – Consumer – Universal Life
Premium – Consumer – Universal Life The agent said that Universal Life policy premiums would stay the same, but I came to realize that this is not true of our policies. …what bothers me is that I am afraid that this same misleading information may be the basis of my children’s and grandchildren’s … planning……
Read MoreGroup Universal Life Insurance
Group Universal Life Insurance WILLIAM R. BRITTON, JR: We will take a current assessment of this phenomenon called group universal life (GUL). I’ll begin with overview and history, Ms. Herz will discuss reasons that employers and employees are interested in GUL, how well it is being accepted, and the market outlook. Mr. Duncan will concentrate…
Read MoreUniversal Life and Adjustable Life are Different
Universal Life and Adjustable Life are Different Adjustable Life is quite different in form from Universal Life, largely because it retains the traditional principle that savings and insurance elements are intertwined–but we shall see that the same objectives can be accomplished. — Charles Trowbridge 1976 – SOA – Adjustable Life Products, Society of Actuaries -…
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