Description: In this article, the authors take an exploration of the pertinent life insurance and political history along with a review of certain aspects of federal income tax policy.

Description: The June 1987 report on UL valuation and nonforfeiture, by the American Academy of Actuaries Universal Life Task Force under the Committee on Life Insurance, discussed whether long-term UL reserve sufficiencies should offset short-term deficiencies. This article discusses that issue.

Description: Summary of annual Milliman UL/IUL Issues Report, covering issues and challenges of these products.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: This abstract desribes a paper that models the stock market return, interest rate and other market variables to simulate potential future returns of EIUL.

Description: The article discusses industry practices relating to US GAAP SOP 03-1 valuation for universal life with secondary guarantee products.

Description: Part 2 of the article continues providing data on why IUL income streams need to be managed and suggests techniques that insurance companies could provide to policyholders and advisors to do so. The author also offers his research data free of charge to any actuary who contacts him to request it.

Description: This first session in the two-part series focuses on Guidelines XYZ and AXXX and their impact on universal life plans with secondary guarantees versus traditional whole life plans. Industry experts – both panelists and audience participants – discuss and debate the necessity for these regulations, the issues surrounding them, and their impact on product design. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 141IF of the Boston Annual Meeting.

Description: 1999 SOA Regional Meeting, Atlanta. In this session on next-generation UL, the panelists explored 1999 product development issues relating to the general account/non-equity-indexed universal life product.

Description: This article discusses the growing popularity of variable products and compares the product design and pricing of VUL and UL products.