Description: This article discusses the the 1998 alternartive XXX model regulations and the potential tax impact on the definition of life insurance and on reserve deductions associated therewith.

Description: This article discusses a number of product variations seen in the market with respect to Universal Life products with secondary death benefit guarantees, factors leading to those designs and considerations regarding the adequacy of reserves that emerge under AXXX formulas. This article also identifies a series of factors that authors believe will make it difficult to quickly and equitably resolve these issues through formula-based changes.