What is secondary guarantee universal life?

What is secondary guarantee universal life?

SECONDARY GUARANTEES WERE A MECHANISM TO MAKE SURE UNIVERSAL LIFE POLICIES DID NOT LAPSE IN EARLY POLICY YEARS FROM LACK OF SURRENDER VALUE. WITH THE ARRIVAL OF THE VALUATION OF LIFE INSURANCE POLICIES MODEL REGULATION (REGULATION XXX) IN 2000, A MEANS FOR RESERVING SECONDARY GUARANTEES BECAME AVAILABLE.