Description: A discussion of the development, key elements, applications, and implementation process of the 2001 CSO Tables for individual life insurance policies for computing minimum reserves, nonforfeiture benefits and tax reserves.

Description: The Product Development Section has recently sponsored research on waiver of premium and waiver of charges riders. Waiver riders are commonly offered as optional benefits or included automatically on individual life insurance policies as an integrated benefit. In the event of disability, a waiver rider may waive future life insurance premium due or contribute an amount to a flexible account, such as the average premium paid over the past year or the cost of insurance charges. Despite the prevalence of these riders, the current valuation standard is still the 1952 Society of Actuaries (SOA) Disability Table.

Description: Mortality Table Slope and Future Improvements

Description: This article discusses the proper slope of mortality tables, especially at the high attained ages.

Description: A discussion of the Society of Actuaries study of Mortality Under Standard Individually Underwritten Life Insurance Between 1995 and 1996 Policy Anniversaries.”

Description: A summary of the 2001 Individual Life and Annuity Expense Study

Description: Background information on the calculation of the statutory valuation and nonforfeiture maximum interest rates and a brief discussion on the effect that changing interest rates will have on some typical life insurance products.

Description: This article gives examples of how an actuary can live by the actuarial motto of substituting facts for appearances. The specific examples given are setting the mortality for table shaved individual life business and setting late duration lapse assumptions for level term business.

Description: This article reports the maximum statutory valuation and nonforfeiture interest rates for calendar year 2004 issues of life insurance products and the maximum statutory valuation interest rates for calendar year 2003 issues of annuity products.

Description: Discussion of the necessity of nonforfeiture laws for life insurance and the inconsistencies in the laws between comparable products.