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: In this article, taken from the author’s remarks at LIMRA's 1980 Annual Meeting, the theme is that the “new generation” of permanent life insurance products, including Universal Life, do meet policyholders’ needs, and that life insurance products, far from being static, evolve to suit the markets they serve and the public's needs. An editor’s note at the end also refers the reader to another article, which presents a “distinctly different viewpoint.”