The session will begin with an overview of the emerging experience in the post level period and the key drivers of that experience. Analysis of the impact of this experience on profitability and ways to manage the resulting profitability will next be addressed. Audience interaction will be expected as the presenters will be well-prepared to address questions and comments from the audience.

The 2013 Product Development and Pricing—Beginning to End, session two: term case studies.

The 2013 Product Development and Pricing—Beginning to End session three: universal life case studies.

The 2013 Product Development and Pricing—Beginning to End, session five: indexed product case studies.

Panelists discuss recent trends in the effects of mortality and lapse rates on term life insurance. The discussion includes: • Theories predicting the impact lapse rates have on mortality after the level premium period • Recent industry studies on mortality and lapses • The impact lapse and mortality rates have on profits

This report, part of the Society of Actuaries [SOA] ‘Experience Studies – Business Practice Surveys,’ presents the results of a survey conducted by the SOA Committee on Life Insurance Mortality and Underwriting Surveys – Regulation XXX Survey Subcommittee. The purpose of the survey was to explore the actions companies took on their term products in response to the introduction of the NAIC Valuation of Life Insurance Policies Model Regulation [Regulation XXX] and Actuarial Standard of Practice No. 40, including the development of companies' ‘X factors,’ the associated annual X factor certification process, and how Regulation XXX impacted the companies' level term pricing.

The prices of many insurance products fail to reflect premiums for the inherent uncertainty they create since there are no hedging assets available in the market. Dr. Robert Merton and Jeremy Gold will lead a panel discussion about how these issues could / should be addressed.

The 2013 Product Development and Pricing—Beginning to End session four: product design process.

The 2013 Product Development and Pricing—Beginning to End, session six: modeling techniques and uses.

Life insurance companies are in the business of accepting risk. In this session, industry experts will discuss a variety of risks that are often embedded in life insurance products. Topics covered will include legal risks, distribution risks and product risks. The panelists will also offer their thoughts regarding how to ensure that these risks are appropriately managed. At the conclusion of the session, attendees will be able to better understand product risks in life insurance, distribution risks of life insurance, and legal risks of life insurance.