Description: This paper sets forth a method of estimating the present value of the cost of future nonvested commissions. It also provides a method of producing an agents' survival table. Followed by several discussion papers submitted

Description: This paper presents a statistical methodology based upon information theory, for adjusting mortality tables to obtain exactly some known individual characteristics, while obtaining a table that is as close as possible to a standard one. Followed by a discussion paper submitted

Description: Panel discussion of alternative approaches to the design of reserve standards, to include those topics discussed in several recent papers and committee reports.

Description: A study of claims cost variation by policy duration fo rindividual medical insurance. The report presents results for single vs. family contracts with long-form underwriting, based on approximately $1.3 billion in incurred claims data provided by seven carriers, for incurral years 2001 through 2003.

Description: This paper presents formulas for the L-Function and shows this function has applications in computing survival rates free from the influence of a given cause of death.

Description: The life annuity mortality risk is the variation in actual financial experience of a group of annuitants from that expected, attributable to the mortality experience of the group. This paper investigated the mortality risk present in a single life annuity and determine the effect of age, sex, assumed interest rate, mortality table, and form of annuity on this risk. Then, it investigated the mortality risk in various portfolios of annuities. Followed by several discussion papers submitted

Description: In an increasing population the number of persons falls off from age to age more rapidly than does the stationary population of the life table. This can introduce a systematic bias into life table calculations. The first part of the paper describes an iterative procedure to correct for the bias, extends the method to multiple decrement and associated single decrement life tables, and demonstrates the magnitude of the bias involved. The second part of the paper summarizes the results of applying iterative life table techniques to 165 populations which encompass over a century's experience and include countries from all parts of the world. Followed by discussions submitted by several people

Description: Panelists discuss the subject of data modeling and then its application to benefit guarantees on variable annuities. Session 36PD of the 2005 Valuation Actuary Symposium.

Description: From the 1985 Valuation Actuary Symposium Discussion of the practical application of cash flow testing in the valuation process.

Description: In this paper, the coefficients of the minimum-Rz moving-weighted-average formulas are derived using matrix algebra and the method of Lagrange multipliers. Reviewer's note: This mathematics can be useful in the graduation process of mortality and morbidity table construction