Description: Recently, the IRS eliminated one of the more amorphous tax rules that at times was a stumbling block in Triple-X securitization transactions. Unfortunately, however, the IRS left an equally amorphous consolidated return rule untouched.

Description: The NAIC is expected to adopt the model regulation for the 2001 CSO table in late 2002. The question then becomes: how quickly will states adopt the table? In the absence of a push by the insurance industry, there is a chance that there may not be 26 state adoptions in 2003.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

Description: Addresses U.K. actuarial discussion regarding “maturity guarantees”, i.e., the reserves necessary to support promises contained in investment-linked contracts.

Description: This article is the abstract from a paper that provides methods and formulas for calculating active life reserves for credit insurance.

Description: Update from the ACLI about its continued contact with Treasury relating to AG VACARVM and Life PBR.

Description: The current drafts of the principle-based reserves PBR model law and accompanying regulations appear to include credit life insurance within the scope. It is expected that once the scope of PBR is expanded to include accident and health insurance, credit disability will fall within its scope as well. This article describes how will this affect credit actuaries.

Description: Designing and Pricing LTCI Combination Products by Carl L. Friedrich from Long-Term Care Newsletter, December 2004, Issue No. 13.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

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.