• Policyholder 1;  I'm dropping my whole life policy with your company and replacing it with company x's universal life policy.
• Agent 1:  Universal life is not right for you, and I recommend retaining your present policy.

• Policyholder 2:  I'm dropping my whole life policy with your company and replacing it with company x's universal life policy.
• Agent 2:  Universal life is not right for you, and I recommend retaining your present policy. -- (Sounds familiar, so far!)
  • But if universal life is what you really want, I will sell you our company's product.

--  Harold Leff, Actuary with the Metropolitan

1983 - SOA - Universal Life, Society of Actuaries - 24p