AG 38 GUL and AG 37 VUL — the mid-year 2013 life insurance review

By Steve Savant

Ash Brokerage Corporation


Now that the dust has settled from the implementation of AG 38, most of the guaranteed universal life premium spreadsheet grids have changed little. Once again, those who cried wolf in 2000 over the Triple X and E regulations wreaking havoc in the life insurance industry, and screamed even louder over AG 38, turned out to be a flock of cackling “chicken littles.” They crowed their doom-and-gloom apocalyptic message and the sky didn’t fall, nor did premiums go through the roof.

And to muddy the waters further, AG 37 (VUL) reserve requirements haven’t changed in decades and are even cheaper than the required reserves of AG 38. Steve and Bobby prognosticate the possible comeback of VUL.