Sources#

Source ids, titles, publishers, URLs, access dates and retrieval markers are carried over verbatim from _research/guaranteed-ul.md (the citation ground truth for [S#]/[R#] tags). Ids are never renumbered. Sources from the research file not cited in product-spec.md or technical-notes.md are omitted (omitted here: product-file R11–R13, which were not fetched and are superseded in the drafts by fetched [REG-R#] equivalents). No new sources were fetched at drafting.

Access date for all citations: 2026-08-03, except the two AP&P Manual appendix entries added afterwards — R153 (A-820, A-821, A-822) and R154 (A-830), both accessed 2026-08-06 and listed in their own subsection below.

Product sources [S#]#

S1 — Corebridge Financial (American General Life), “Secure Lifetime GUL 3 — Guaranteed Universal Life Insurance” consumer guide#

  • Publisher: American General Life Insurance Company (AGL) / The United States Life Insurance Company in the City of New York (US Life); marketing name Corebridge Financial

  • Doc type: consumer brochure, AGLC109163 REV0824, 6 pages

  • URL fetched: https://www.fmiagent.com/wp-content/uploads/2024-11-06_American_General_Secure_Lifetime_GUL_3_Consumer_Guide_AGLC109163_8-24.pdf (BGA-hosted mirror of the official piece)

  • Retrieved: YES (PDF fetched, full text extracted)

S2 — Pacific Life, “PL PROMISE GUL — Product Facts” (producer piece)#

  • Publisher: Pacific Life Insurance Company (Omaha, NE home office; not licensed in New York)

  • Doc type: producer guide / product fact sheet, LFP3476-2400 6/24, 3 pages, “For financial professional use only”

  • URL fetched: https://life.pacificlife.com/content/dam/paclife-lid/public/plexpress/products/pl-promise-gul/LFP3476.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

S3 — Protective, “Protective Advantage Choice UL — Product Guide” (consumer)#

  • Publisher: Protective Life Insurance Company (PLICO), Nashville, TN

  • Doc type: product guide / consumer brochure, PLC.560869 (06.24), policy form UL-20, 8 pages

  • URL fetched: https://finpro.protective.com/-/media/project/pli/finpro/download-assets/assets/560000-560999/plc/plc-560869-06-24-acul-product-guide-8-22-24-digital.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

S4 — Nationwide, “Nationwide No-Lapse Guarantee UL II — Product Highlights” (producer)#

  • Publisher: Nationwide Life Insurance Company / Nationwide Life and Annuity Insurance Company, Columbus, OH

  • Doc type: producer product highlights sheet, FLM-1166AO.1 (07/18), 4 pages, “For insurance professional use only”

  • URL fetched: https://cdn2.hubspot.net/hubfs/1748227/NLG%20II%20PRODUCT%20HIGHLIGHTS%20FLM_1166AO_1_NLG_Product_Highlights_Final1.pdf (marketing-hub mirror of the official piece)

  • Retrieved: YES (PDF fetched, full text extracted)

S5 — Penn Mutual, “Protection Guard Universal Life” client brochure#

  • Publisher: The Penn Mutual Life Insurance Company, Philadelphia, PA

  • Doc type: consumer brochure, PM6240 03/16, 16 pages; policy forms ICC-13 FL and FL-13

  • URL fetched: https://www.pennmutual.com/static-assets/v1/item/6f12a3f0-9cf7-06ca-e1d5-2157666c9ce0/attachments/PGUL_Client_Brochure_PM6240.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

S6 — Financial Markets Inc. (BGA) carrier page, “Secure Lifetime GUL 3”#

  • Publisher: FMI (fmiagent.com), distributor page for Corebridge Financial

  • Doc type: product summary web page (third-party distributor)

  • URL fetched: https://www.fmiagent.com/carrier/corebridge-financial/secure-lifetime-gul-3/

  • Retrieved: YES (HTML)

  • (Caveat carried from research file: distributor-hosted page, not a Corebridge-controlled domain; consistent with S1 but treat numbers as secondary confirmation.)

S7 — Protective, “Protective Lifetime Assurance UL — Producer Guide”#

  • Publisher: Protective Life Insurance Company, Omaha, NE (successor GUL to Advantage Choice UL)

  • Doc type: producer guide, PLAG.1387452 (10.25), policy form UL-22, 8 pages, “For financial professional use only”

  • URL fetched: https://finpro.protective.com/-/media/project/pli/finpro/download-assets/assets/1387000-1387999/plag/plag-1387452-10-25-laul-producerguide-10-13-25-digital.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

S8 — WinFlex (Ebix) “Protective Life product changes” page#

  • Publisher: winflexweb.com (industry illustration platform), Protective product-change log

  • Doc type: illustration-platform product change notes (third-party but sourced from carrier releases)

  • URL fetched: https://www.winflexweb.com/ifx/Help/whatsnew/PROTnew.htm

  • Retrieved: YES (HTML)

S9 — Pacific Life, “PL PROMISE GUL — Client Guide”#

  • Publisher: Pacific Life Insurance Company

  • Doc type: consumer brochure, 15-47468-03 3/23 (23-VER-24), 6 pages

  • URL fetched: https://www.pacificlife.com/content/dam/paclife/lid/public/brochures/15-47468-03.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

Regulatory and actuarial sources [R#] (product research file numbering)#

R1 — NAIC Actuarial Guideline XXXVIII (AG 38), “The Application of the Valuation of Life Insurance Policies Model Regulation” (full text, as revised 2012)#

  • Publisher: National Association of Insurance Commissioners (NAIC)

  • URL fetched: https://content.naic.org/sites/default/files/inline-files/cipr_ag38_121212.pdf

  • Retrieved: YES (13-page PDF, full text extracted)

R2 — NAIC Valuation Manual, Jan. 1, 2026 edition (VM-01 definitions; VM-20 Requirements for Principle-Based Reserves for Life Products)#

  • Publisher: NAIC

  • URL fetched: https://content.naic.org/sites/default/files/pbr_data_valuation_manual_current_edition.pdf (457 pages)

  • Retrieved: YES (PDF fetched; ULSG-relevant sections extracted)

R3 — NAIC Model 585, “Universal Life Insurance Model Regulation” (full text, 2001 reprint)#

  • Publisher: NAIC

  • URL fetched: https://content.naic.org/sites/default/files/model-law-585.pdf (14 pages)

  • Retrieved: YES (PDF fetched, full text extracted)

R4 — IRC section 7702 (Definition of life insurance contract), Cornell LII#

  • Publisher: Legal Information Institute, Cornell Law School (26 U.S.C. 7702)

  • URL fetched: https://www.law.cornell.edu/uscode/text/26/7702

  • Retrieved: YES (HTML; summarized via fetch)

R5 — IRC section 7702A (Modified endowment contract defined), Cornell LII#

  • Publisher: Legal Information Institute, Cornell Law School (26 U.S.C. 7702A)

  • URL fetched: https://www.law.cornell.edu/uscode/text/26/7702A

  • Retrieved: YES (HTML; summarized via fetch)

R6 — NAIC Model 787, “Term and Universal Life Insurance Reserve Financing Model Regulation” (full text)#

  • Publisher: NAIC

  • URL fetched: https://content.naic.org/sites/default/files/model-law-787.pdf

  • Retrieved: YES (PDF fetched, full text extracted)

R7 — SOA Research Institute & LIMRA, “2015–2021 Universal Life Insurance Lapse Rate Experience Study” (highlights report, November 2023)#

  • Publisher: Society of Actuaries Research Institute and LIMRA

  • URL fetched: https://content.naic.org/sites/default/files/call_materials/SOA-LIMRA%20Research%20-%202015-2021%20UL%20Lapse%20Study%20(1).pdf (NAIC-hosted copy of the SOA/LIMRA highlights)

  • Retrieved: YES (5-page PDF, full text extracted)

R8 — SOA “2017 Universal Life with Secondary Guarantees Survey” (Policyholder Behavior in the Tail working group; author Jeff Hartman, July 2017)#

  • Publisher: Society of Actuaries

  • URL fetched: https://content.naic.org/sites/default/files/inline-files/cipr_topic_universal_life_2017_universal_life_with_sec_guarantees_surv.pdf (NAIC-hosted copy)

  • Retrieved: YES (39-page PDF, text extracted)

R9 — American Academy of Actuaries, “Life Principle-Based Reserves (PBR) Under VM-20” practice note (2020 update)#

  • Publisher: American Academy of Actuaries

  • URL fetched: https://actuary.org/wp-content/uploads/2020/04/VM-20_PN_2020_Version_0.pdf

  • Retrieved: YES (PDF fetched, text extracted)

R10 — Actuarial Standards Board, ASOP No. 52, “Principle-Based Reserves for Life Products under the NAIC Valuation Manual”#

  • Publisher: Actuarial Standards Board

  • URL fetched: http://www.actuarialstandardsboard.org/asops/principle-based-reserves-life-products-naic-valuation-manual/

  • Retrieved: YES (HTML; summarized via fetch)

Cross-product regulatory references [REG-R#]#

Cited as [REG-R#] to avoid collision with the product research file’s own R# numbering. Full annotated entries (publisher, URL, doc type, fetch status, annotation) live in _research/regulatory-actuarial.md under the corresponding R# id; the shared reference library is references/regulatory-and-actuarial-references.md (same R-numbering, which now runs R1–R157, with most of the R73–R149 block unused. R1–R34 originate in _research/regulatory-actuarial.md; R35–R72, annuity-specific entries not cited here, in _research/regulatory-actuarial-annuities.md; and R150–R157 were read after drafting, R151–R157 being the seven AP&P Manual appendix items whose provenance is _research/appp-ag33.md, appp-ag35.md, appp-a820-a821-a822.md, appp-a830.md and appp-a585-a250-a255-a270.md. Of those seven this product cites R153 and R154 only). Entries cited by the two drafts, with the bibliography’s fetch markers:

Tag

Short name (per bibliography)

Fetched

REG-R3

Valuation Manual, Jan. 1, 2026 Edition (VM-01, VM-02, VM-20, VM-31, …)

yes

REG-R4

Life Insurance Illustrations Model Regulation (Model #582)

yes

REG-R5

Universal Life Insurance Model Regulation (Model #585)

yes

REG-R6

Valuation of Life Insurance Policies Model Regulation (Model #830, “Regulation XXX”)

yes

REG-R7

Actuarial Guideline XXXVIII (AG 38, 2012 text incl. 8D/8E)

yes

REG-R11

Actuarial Guideline XLVIII (AG 48, 2016 revision print)

yes

REG-R12

Term and Universal Life Insurance Reserve Financing Model Regulation (Model #787)

yes

REG-R13

26 U.S.C. § 7702 — Life insurance contract defined

yes

REG-R14

26 U.S.C. § 7702A — Modified endowment contract defined

yes

REG-R16

26 U.S.C. § 807 — Rules for certain reserves (tax reserves)

yes

REG-R17

2017 Commissioners Standard Ordinary (CSO) Tables

yes (landing page)

REG-R18

2015 Valuation Basic Table (VBT) — Report and Tables

yes (landing page)

REG-R19

2019 Individual Life Insurance Mortality Experience Report (ILEC 2012–2019)

yes (landing page)

REG-R20

U.S. Individual Life Insurance Persistency Update (LIMRA/SOA, 2009–2013)

yes (landing page)

REG-R21

2015–2021 Universal Life Premium Persistency and Lapse/Surrender Experience Study

yes (landing page)

REG-R23

AAA Life PBR Under VM-20 Practice Note (April 2020)

yes

REG-R25

AAA Life PBR Assumptions Resource Manual (January 2019)

yes

REG-R26

ASOP No. 2 — Nonguaranteed Elements for Life Insurance and Annuity Products

yes

REG-R27

ASOP No. 7 — Life or Health Cash Flow Analysis

yes

REG-R30

ASOP No. 24 — NAIC Life Insurance Illustrations Model Regulation

yes (standard’s page)

REG-R31

ASOP No. 52 — Principle-Based Reserves for Life Products under the NAIC Valuation Manual

yes

REG-R32

ASOP No. 56 — Modeling

yes

Entries added after drafting — AP&P Manual appendix items read at first hand (2026-08-06)#

Cited by product-spec.md’s “Regulatory context” and by technical-notes.md’s “Valuation and reserve pointers”. Ids, titles, publishers, URLs, access dates, fetched markers and carried limits below are reproduced from references/regulatory-and-actuarial-references.md, which itself carries them from the AP&P extractions. Ids are never renumbered. Seven appendix items were read in that pass (R151–R157); this product cites two of them, and the other five resolve in the shared reference library.

One physical document behind R153 and R154. Both are appendix items of the NAIC Accounting Practices and Procedures Manual, As of March 2026 — the same 2,117-page consolidated PDF catalogued as R73 in the shared reference library, a free download from content.naic.org. They take appendix-level ids so a document can cite A-830 ¶30 instead of a 2,117-page manual. Each was read by local text extraction from that download. This supersedes in fact the R110 limit, which recorded A-820 and A-830 as not retrieved under R33’s “paid publication” assumption; R33, R110 and R6 are frozen and are preserved unaltered.

Edition line, stated once for both. Neither item prints “As of March 2026” on its own pages. Every extracted page carries only the footer “© 1999-2026 National Association of Insurance Commissioners”, which is a copyright span, not an adoption, effective or revision date for either instrument and must never be cited as one.

Licence caution, inherited from R73. Personal and non-commercial use; redistribution or integration “into any software or other publication” requires written NAIC permission. Both drafts therefore paraphrase the mechanics and cite the paragraph, quoting only short anchors.

R153. Appendix A-820 — Minimum Life and Annuity Reserve Standards (with Appendix A-821, Annuity Mortality Table for Use in Determining Reserve Liabilities for Annuities, and Appendix A-822, Asset Adequacy Analysis Requirements)#

  • Publisher: NAIC

  • URL: https://content.naic.org/sites/default/files/publication-app-manual.pdf — Volume I, Appendix A — Excerpts of NAIC Model Laws; A-820 printed A820-1 to A820-13 = PDF pages 1186–1198, A-821 printed A821-1 to A821-6 = PDF pages 1199–1204, A-822 printed A822-1 = PDF page 1205; same physical document as R73

  • Accessed: 2026-08-06

  • Fetched: yes (local text extraction; A-820 ¶¶1–28 read in full, A-821 read in full including the 2012 IAM Period Table and Projection Scale G2 printed at its Appendices I–IV, and A-822’s four paragraphs read in full)

  • Limits carried forward from _research/appp-a820-a821-a822.md: “As of March 2026” is not printed on PDF pp. 1186–1205 — cite the copyright footer for what those pages print. A-820 names its life mortality tables without printing them and the 2017 CSO is nowhere in its text. Three text-layer repairs are recorded in the research file rather than hidden: the lost fraction bar at ¶7.a.i(a) (the term is (W/2)·(R2 − .09)), the lost R1/R2 subscripts, and the ¶8.c weighting-factor tables, which were reassembled by column position from a scrambled layer. Two internal oddities are recorded as printed and not reconciled: ¶22’s empty window and ¶7’s “effective date of the Codification”, a threshold whose date A-820 never prints. Naming trap: AP&P Appendix A-822 is not NAIC Model #822 — A-820’s own header does not list Model #820 while A-822’s does. (The A-821 annuity-mortality limits carried in the master entry are not reproduced here: this product cites A-820 only.)

  • Supersedes in fact: the A-820 half of R110’s limit, and, for the paragraphs it carries, the reliance on R1 alone.

R154. Appendix A-830 — Valuation of Life Insurance Policies (Including the Introduction and Use of New Select Mortality Factors)#

  • Publisher: NAIC

  • URL: https://content.naic.org/sites/default/files/publication-app-manual.pdf — Volume I, Appendix A — Excerpts of NAIC Model Laws; printed pages A830-1 to A830-27 = PDF pages 1206–1232 — operative text A830-1 to A830-14 (PDF 1206–1219), the Attachment heading and explanatory note at A830-15 (PDF 1220), and the six select-mortality-factor tables at A830-16 to A830-27 (PDF 1221–1232); same physical document as R73

  • Accessed: 2026-08-06

  • Fetched: yes (local text extraction; ¶¶1–32 and the Attachment read in full; the six factor tables transcribed programmatically, each parsing to 71 issue-age rows × 20 duration columns)

  • Limits carried forward from _research/appp-a830.md: the appendix is a flat sequence of paragraphs ¶¶1–32 plus an unnumbered Attachment and has no Sections at all, so a “Model 830 Section 7” citation does not resolve against this print — the ULSG material is at ¶¶29–32 — and the words “Model #830” and “Regulation XXX” appear nowhere in it. It prints no calendar effective date for itself: “the effective date of this appendix” is an unresolved placeholder used eleven times, and the only calendar dates printed anywhere are the 1 January 2004 cutover to the 2001 CSO. There is no worked numerical example in it, no AG 38 content, no prescribed X value, and no annuity content. Its ¶17 X-factor cross-reference is garbled in the print and is flagged rather than resolved, as is ¶32.b’s unnamed “other appendices governing universal life plans”. The transcribed factor tables were not checked against an independent copy and are not reproduced in this directory.

  • Supersedes in fact: the A-830 half of R110’s limit, and the second-hand reliance on Model #830 (R6) for the segmented/unitary construction and the ULSG paragraphs. R6 and R110 are frozen and unaltered.

Provenance note#

Extraction details live in _research/guaranteed-ul.md: that file records which facts came from which source (fact-by-fact under each S#/R# entry, plus the “Extracted specifications”, “Variations across insurers” and “Gaps and caveats” sections), including the failed/not-retrieved fetch attempts and the unverified flags carried into the drafts. The cross-product [REG-R#] entries at R1–R34 are documented, with their own fetch log and annotations, in _research/regulatory-actuarial.md; R153 and R154 are documented in _research/appp-a820-a821-a822.md and _research/appp-a830.md respectively. All of these are reproduced in references/regulatory-and-actuarial-references.md — where those research files and this one disagree, the research files govern. All URLs in the product [S#]/[R#] sections were accessed 2026-08-03. No source was newly fetched at drafting; R153 and R154 were fetched and read afterwards, on 2026-08-06, and are the only entries below that post-date the drafts. Every tag in product-spec.md and technical-notes.md resolves to an entry above.

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