[sethhochberg]

Some less-common varieties of life insurance start to look a whole lot like investment products and are (sometimes controversially) sold as such for people in very specific financial situations - think like cash value and death benefit value that vary over time based on asset performance. A legacy insurer selling Variable Universal Life or similar policies would have some financial calculation needs.

[janstice]

And I guess if there’s a whole-of-life policy sold in 1962 that hasn’t been terminated - I guess there’s a lot of grandfathered rules that are just easier to keep in their original systems.