Level Premium Whole Life Policy Without Cash Value

  • Referring to Mr. Hutchison's comment about the self-induced cash value fetish I wonder if he is really referring to the self-induced guaranteed cash value fetish.
  • Many years ago life companies in the U.K. offered a level premium whole life policy without cash value, as Mr. Gustafson has described for us.
    • The distasteful practice of selling those policies in the open market has not occurred for many, many years, but yet the British companies happily offer non-guaranteed cash value.
    • They do, however, offer a cash value, and that is an essential distinction.

--  Nicholas Bauer

1980 - SOA - Treatment of Existing Life Insurance Policyholders in Times of Rapidly Changing Economic Conditions, Society of Actuaries - 16p

  •  That was one of the recommendations made by the Advisory Committee that Shane and I worked on almost ten years ago, and it joined most of our other recommendations in being trashed by the then NAIC working group.
    • re: nonforfeiture regulation, policies without Cash Value
    • [Bonk: Shane = Shane Chalke]

--   Walter Miller, now an independent consultant, retired as the senior vice president and chief actuary of Prudential Preferred Financial Services

1995 - SOA - Current Developments Surrounding Regulations and Standards of Life and Annuity Products, Society of Actuaries - 18p