Secondary Guarantees â UL & VUL Products - Actuary.com
Secondary Guarantees â UL & VUL Products - Actuary.com
Secondary Guarantees â UL & VUL Products - Actuary.com
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Valuation Requirements<br />
• Historically <strong>com</strong>panies have not applied uniform<br />
reserve standards to GMDBs<br />
• Regulatory sources that <strong>com</strong>panies have looked to for<br />
guidance:<br />
– Standard Valuation Law<br />
– Variable Life Insurance Model Regulation (’83 & ’89<br />
revisions)<br />
– Universal Life Insurance Model Regulation<br />
– Valuation of Life Insurance Model Regulation (XXX)<br />
42
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