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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Why do <strong>com</strong>panies not follow the VL Model<br />
Regulation?<br />
• Many states have not passed either the ’83 or ’89<br />
revision<br />
• Companies therefore either look to the SVL or the <strong>UL</strong><br />
Model Regulation for guidance.<br />
• Companies that used the <strong>UL</strong> Model Regulation were<br />
holding no additional reserve for the secondary<br />
guarantee<br />
– Same situation we had with Universal Life until XXX.<br />
43
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