Description: The panel provided a basis for discussing the implications of the new tax code to life insurance and associated products, including annuities and accident and health insurance, but no discussion of the taxation of insurance companies.

Description: This is the digest from the informal discussion reviewing the 1951 Impairment study. It is the latest in a series of studies covering mortality of impaired risks. It covers the experience under Ordinary insurance issued from 1935 to 1949 traced to the anniversaries in 1950. Standard and substandard policies were studied separately.

Description: This general discussion focused on: A. The increase on maximum limits on single premiums accepted based on investment conditions, B. Steps a smaller company might take to meet the current demand for pension plans, C. The extent to which companies have: 1. Transferred to their field or district offices functions which had previously been performed in the home office 2. Transferred to the home office or to central collection offices functions which had previously been performed in agency offices D. Steps taken to revise or supplement company retirement plan benefits to recognize higher salary scales and the possibility of still further inflation, E. The advantages and disadvantages of the Bank Loan Plan under which a policyholder purchases a limited payment life policy and borrows part of the premium from a bank, and F. Changes which have been made in War Exclusion Riders, Disability and Double Indemnity provisions.

Description: This is a discussion about 1959 Act dealing with federal income tax on life insurance companies. Specific topics include: A. Impact the new tax law has had on: i the investment policies of individual companies, ii company accounting systems and procedures, iii actuarial bases for new contracts? B. What principles have been followed in allocating the federal income tax among the annual statement lines of business? How is the assessment to a line of business with a loss from operations established? Is the tax on the interest on surplus allocated on some general basis or with regard to the relative contributions of the different lines to the accumulated surplus? C. How is the tax taken into account in asset share tests and dividend scale determinations?

Description: This presentation is from the Digest of Informal Discussion, Transactions of Society of Actuaries 1955 Volume 7, Number 17. The speakers discuss per policy expenses. Topics include identification of expenses directly dependent on number of policies, impact on determining premium rates and dividend scales, use of policy fees, interaction with other assumptions, and methods in the U.S., Canada, and other countries to grade premiums by policy size.

Description: This is a discussion about substandard mortality vs. standard mortality and the effects it will have on substandard premiums. Topics included: A. Statistical evidence on the trend of substandard mortality. Does it generally follow the trend of standard mortality? B. Effect this should have on substandard extra premiums. C. Does a lowering of substandard extras require any changes in underwriting rules, either as to the range of substandard classes or as to the ratings applied to some of the major impairments?

Description: Discussion of the following underwriting topics: A. In view of the low rates of mortality currently experienced on standard lives, is the standard classification too narrow? B. Do substandard extra premiums at the lower ratings make fair provision for the additional expenses incurred on substandard policies? C. What problems are encountered in issuing life insurance on persons residing outside the continental United States and Canada? D. What changes have been made recently in non-medical selection and why? E. How could greater use be made of mortality or morbidity studies conducted by hospitals, clinics, government agencies, universities and others outside of the life insurance business?

Description: Informal discussion of the role of life insurance in the national savings. Topics included: A. Life insurance company market share of the savings dollar. B. Impact of mutual fund investments on life insurance company sales. Types of marketing procedures used in the sale of life insurance in combination with mutual fund investments. C. Strategic desirability of variable life insurance policies as a means of recognizing the demand for equity investments. Statutory changes required before such policies can be marketed.

Description: This discussion looks at The Build and Blood Pressure Study and the effect build and blood pressure have on mortality. From Transactions of Society of Actuaries 1959, Vol. 11, No. 31.

Description: This discussion addresses the following questions about health insurance maternity benefits: 1. What has been the claim, lapse, and expense experience on hospital-medical policies with maternity benefits issued to young married couples? 2. To what extent have hospital-medical policies been introduced with reduced maternity benefits during the early policy years or with no maternity benefits? 3. What other measures are being used to provide maternity benefits on a self-sustaining basis? 4. Are these measures effective? From Transactions of Society of Actuaries 1963, Vol. 15 Pt. 2