Term Trends – Products over Pricing (For Now)

The ranking of the top 20 term carriers has remained largely the same. Overall, carriers showed greater focus on developing products to reflect the economic circumstances – creating value without consuming additional scarce capital. Three products reflect this activity well: the emergence of term-on-a-universal life chassis, the tenacity of return-of-premium (ROP) term after Actuarial Guideline 45 took effect, and the re-emergence of income protection term.

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