Description: Report summarizing the results of the 2018 PBITT UL with Secondary Guarantees Survey

Description: Discusses the results of the SOA’s 2009 UL secondary guarantee study conducted by the Policy Behavior in the Tail PBITT working group.

Description: Reworking The ABC’s of XYZ by Tom Kalmbach from Small Talk Newsletter, November 2002, Issue No. 19.

Description: “Non-traditional” guarantees refer to guarantees that are in addition to traditional mortality, expense, and interest guarantees. Examples of such types of guarantees are death and living benefits on variable annuity contracts and no-lapse guarantees on universal life or variable universal life products. The purpose of this paper is to offer practitioners an overview of the various issues concerning the pricing of these guarantees, the many other issues which need to be analyzed and addressed in the determination of risks and the management of the block of business, and the results of a company survey of practices. This paper is based on the working knowledge of the authors, a broad compilation of literature and the company survey results. At the end of most sections of the paper, we have provided a list of resources which we have selected as some of the best sources available for those practitioners interested in researching the subject matter further.

Description: Discussion of UL products with secondary guarantees and how they are similar to and different from traditional life insurance products. Discussion of possibility they are lapse supported in their pricing.

Description: The article summarizes results of a Milliman survey per the title. These products comprise about 40% of the total individual life market, and the survey covers a range of topics on these plans, which should be of interest to a large portion of the life industry.

Description: Report summarizing the results of the 2018 PBITT UL with Secondary Guarantees Survey

Description: This article summarizes the findings of the 2020/2021 Milliman UL/IUL/VUL survey. The survey covers a range of specific product and actuarial issues and the results provide a good tool for benchmarking

Description: Report summarizing the results of the 2019 PBITT UL with Secondary Guarantees Survey.

Description: Key findings from Milliman's 2019/2020 UL/IUL survey. Provides benchmarking for UL/IUL competitors relative to trends in the industry.