Description: In this article about the then in 1981 newly developed Universal Life Insurance, the author concludes the product is here to stay, and that it will be good for the consumer as it evolves in response to the changing economic and social conditions. The article discusses the challenges still to be faced, including federal income tax treatment and regulation by state insurance departments.

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

Description: An introduction to ultimate life insurance, a product intended to be flexible enough to meet consumers' needs over their lifetimes. The paper gives some illustrations and discusses the Ultimate Life Financial Risk Analysis computer program.

Description: Provides a few highlights of the rules set forth in the Proposed 965 Regulations and the impact such rules have on the determination of various aspects of the toll tax calculation.

Description: The Universal Life Work Group ULWG of the American Academy of Actuaries’ AAA Life Valuation Subcommittee was formed in July 2004. Its charge is to develop a new “principle-based” approach definition follows for statutory reserves and capital requirements for life products with certain types of benefits and guarantees, where the value of the contract obligations vary significantly due to such things as future interest rates or equity returns.

Description: The author discusses an interpretation of the surrender charge limitations specified in New York’s Regulation 77 which increases the maximum allowable surrender charges for renewal years. This interpretation was presented to and accepted by the New York State Insurance Department.

Description: Discussion of the new- 2003- regulations in China pertaining to nonguaranteed life products.

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: This article is aimed to cover the following: 1) Provides an assessment of income volatility under Long Duration Targeted Improvements (LDTI) for several key types of long duration contracts along with select illustrations, and compares against those under current GAAP, 2) Discuss areas where accounting policies or methodologies can influence income volatility, and 3) Show how a company's management reporting can be adapted to help explain income variances under LDTI.

Description: This article describes the potential effects of a Guideline Premium Forceout on the policy values and administration of Universal Life policies.