Description: Paper provides an overview of the impacts of population aging on the design and marketing of group life and health and group pension products over the next 40 years. While the paper is written with a group focus, the implications of the material for individual product design and marketing are immediately obvious and equally important. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: This presentation helps you prepare for the 1996 filing seasons and anticipate any additional information needs by reviewing the 1996 Schedule B. From the Record of the Society of Actuaries, Vol. 23, No. 1.

Description: Panelists discuss the pros and cons of using a care manager in order to receive either benefits or enhanced benefits in long term care plans. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: Panel discusses the effects of reduced payment levels to many Medicare managed care organizations. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: Contained in Appendix 4 of the 1987 Valuation Actuary Handbook, this set of articles sets forth the positions of various industry groups with regard to the valuation actuary concept as of January 1987. It consists of four sections: 4.1 – Excerpts from the Report of the Task Force on the Valuation Actuary to the ACLI Board of Directors, August 1986 4.2 – Final Report of the Joint Committee on the Role of the Valuation Actuary in the United States 4.3 – Preliminary Report to NAIC Life & Health Actuarial Task Force from Surplus & Solvency Subcommittee of NAIC Standing Technical Advisory Committee, October 9-10, 1986 and 4.4 – Draft Recommendation 7 – American Academy of Actuaries paper. Views of the American Council of Life Insurance, ‘ACLI,’ the National Association of Insurance Commissioners, ‘NAIC,’ the American Academy of Actuaries, and the Society of Actuaries are all represented. Note that the final report in 4.2 above was adopted in 1984 by the boards of both the Academy and Society, the two organizations represented on the Joint Committee.

Description: In this paper, chapter V of the 1987 Valuation Actuary Handbook, the authors start with a discussion of how the recent economic environment with volatile interest rates has changed the valuation and surplus management process to one more dependent on actuarial judgment. In a discussion of surplus policy, the authors identify four “layers” of surplus which have been identified by scenario testing. These surplus layers, along with policy reserves, are based on specific invested assets. The paper discusses implications for the future and notes the actuary’s ability to advise management on surplus adequacy is a basic tool of risk management.

Description: This material, Appendix I of the 1987 Valuation Actuary Handbook, is an appendix to Chapter II of the Handbook, ‘Methods of Analyzing cash Flows to Test for Reserve Adequacy.’ The author provides additional support in his appendix which discusses the theory behind MacAulay duration and provides illustrative examples.

Description: This is the announcement marking the end to the section, Legal Notes. From Transactions of Society of Actuaries 1964, Vol. 16, Pt. 1, No. 46.

Description: Review of the fifth and final report in the 1960 Census Monograph Series created by the Social Science Research Council. Makes a compelling case for the monograph providing a good historical and statistical analysis of the changing U.S. population and demographics.

Description: APL is both a unique form of mathematical notation and a programming language. As a notation it has intrinsic appeal and gives rise to many elegant and ingenious definitions of mathematical concepts. As a programming Language, or system, it also provides the user with instant evaluation of these concepts. The combination is extremely powerful, and some interesting applications may be demonstrated with respect to annuities.