Description: This article addresses the expected impact that the 2001 CSO table will have on pricing and product structure for UL plans.

Description: Summary of recent changes to IRS Section 7702 Interest Rates, and how it will impact the design of life insurance products in the future.

Description: This 1979 session is about current developments in Life products. Products discussed: 1. Adjustable life 2. Universal life 3. Indexed coverages 4. Term Insurance plus accumulation fund 5. Level Premium Term to 100 6. Revertible Term

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: This article discusses the the 1998 alternartive XXX model regulations and the potential tax impact on the definition of life insurance and on reserve deductions associated therewith.

Description: 1988 Valuation Actuary Symposium. In this session the speaker described the attributes of a UL policy, how his company invested the cash that was built up, valuation of the product, modeling in general, the specific model structure for Universal Life, problems encountered in the modeling process, and some of the more interesting aspects of the results.

Description: This article is aimed to cover the following: 1) Provides an assessment of income volatility under Long Duration Targeted Improvements (LDTI) for several key types of long duration contracts along with select illustrations, and compares against those under current GAAP, 2) Discuss areas where accounting policies or methodologies can influence income volatility, and 3) Show how a company's management reporting can be adapted to help explain income variances under LDTI.

Description: Reworking The ABC’s of XYZ by Tom Kalmbach from Small Talk Newsletter, November 2002, Issue No. 19.

Description: This article is an extract from a revision to the Universal Life Study Note. From Product Development Section Monograph, M-AS99-3.