Traditionally, life insurance professionals tend to talk about product risk in terms of the variability of the crediting rate, with UL on one end of the spectrum, VUL on the other and IUL in the middle. But that's only part of the story. In products funded at the minimum premium to maintain coverage for life, the interaction of policy charges and even minor deviations in crediting performance create enormous long-term impacts. A single basis point difference in crediting rate can lead over-endowment or policy lapse.