Description: Summary of a survey conducted by Milliman of 28life insurers on the impact of AG49 and AG49-A on their Indexed Universal Life products.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.

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 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 impact on the policyholders and the insurance companies of the phase-out of the deductibility of policy loan interest resulting from the new tax law.

Description: Hubert Mueller describes why unit-linked products are increasingly popular in Europe and provides his outlook for continued growth.

Description: Provides a few highlights of the rules set forth in the Proposed 965 Regulations and the impact such rules have on the determination of various aspects of the toll tax calculation.

Description: The article discusses the continued popularity of indexed UL insurance and possible reasons why a company's actual indexed UL earnings may be below their original pricing expectations for the product. The article discusses several key items that may be the source of that underperformance (e.g., hedge ineffectiveness, policyholder behavior) and the need to monitor earnings and perform analyses to better understand those potential sources.

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.