Description: Discussion of topics addressed at pricing methodologies seminar,including a review of the results of the Tillinghast Pricing Methodology Survey. This survey covers the most popular profit measures for various companies within various product lines. The concept of market consistent embedded value was also discussed, as well as a review of pricing indexed products. Finally, there were case studies presented on pricing Universal Life with Secondary Guarantees, Return of Premium Term and Variable Annuities with Living Benefits

Description: The impact of the underlying mortality table selected as a basis for projecting mortality results

Description: Discussion of a direct writer survey and a reinsurer survey conducted in the fall of 2002 by the Society of Actuaries. The surveys asked a number of questions about underwriting criteria needed to qualify for preferred risk. They also asked questions about the percentage of issues in each underwriting category and the mortality assumptions for the different categories.

Description: This paper presents multiple book reviews: Reports from Staff of U.S. House of Representatives Committee on Ways and Means and U.S. Senate Committee on Finance, Reports in Connection with Social Security Legislation 1975-77, 'Statement on Cost Comparisons of Individual Life Insurance Policies', by Canadian Institute of Actuaries, 'Investment Activities of Life Insurance Companies' from Huebner Foundation Lectures, 'The Life Insurance Industry's Marketing Dilemma' by Johns, 'The Future of Social Security' by Munnell, 'Social Security - Today and Tomorrow' by Ball, 'Mortality Table Construction' by Batten, 'Mortality Table Construction' by Batten, 'The Crisis in Social Security - Problems and Prospects' by Boskin, 'A History of Interest Rates' by Homer, 'Indexation of Pensions and Other Benefits' by Robert Myers, 'Life Insurance Accounting' by Strain, '1978 Annual Report of the Board of Trustees of the Federal Hospital Insurance Trust Fund...' by US Congress. Brief summaries of additional readings are also included.

Description: This paper will show that the result of using the 1975-80 select/ultimate table, as opposed to the more modern 1990-95 select/ultimate table, can be a significant understatement of future mortality and hence anticipated profits may prove to be illusory.

Description: Tillinghast conducted a survey of mortality tables that life insurance companies used for pricing life products in 2001. One objective was to determine the underlying table being used, and the prospects of the 2001 CSO-related tables becoming a new basis for mortality measurement. This article summarizes some of the results.

Description: This discussion on premium differentials examines if a graduation of premium rates by policy size is feasible or desirable as well as if it is practical to give lower premium rates to females.

Description: Discussion of work site mortality— including risk classification and underwriting methodology decisions which affect the appropriate mortality assumptions

Description: This paper describes a method of comparing net costs of dissimilar life insurance contracts. The principles are consistent with those of the interest-adjusted method recommended by the Moorhead committee. The significance of the results, possible applications of the method, and some concerns and conclusions are discussed.

Description: From a session at a meeting of the Society of Actuaries held in Las Vegas, NV May 22-24, 2000 The panelists cover: 1 The basic concepts underlying fuzzy logic, 2 Current applications to risk classification and pricing and 3 Future possible uses of fuzzy logic.