US GAAP Basics – Traditional Life Webcast

March 8, 2018


Technical Skills & Analytical Problem Solving


Presented by

Financial Reporting Section and PolySystems


Noon–1:30 p.m. ET


This webcast takes place via the Internet.

Registration Fees

Registration is now closed. The SOA Customer Service Center is available to assist you Monday through Friday, 8:00 a.m. to 5:00 p.m. CDT. Please call +1-888-697-3900.

Who Should Participate

Members of the Financial Reporting, Modeling, Product Development, and Smaller Insurance Company sections as well as all actuaries interested in or involved with U.S. GAAP for traditional life products.


This webcast reviews basic GAAP reporting principles for traditional life insurance products, including term and whole life insurance.  It is the first in a three-part series of webcasts on the basics of U.S. GAAP sponsored by the Financial Reporting Section and PolySystems. The series will highlight key GAAP content from the more in-depth, full-day reserves seminars jointly sponsored by the SOA and PolySystems each June.  The three webcasts in the series are as follows:

GAAP Basics – Traditional Life (Thursday, March 8)

GAAP Basics – Universal Life (Wednesday, March 14)

GAAP Basics – Deferred Annuities (Thursday, March 22)

Each webcast in the series features GAAP valuation examples that build upon one another to illustrate the basic application of GAAP reporting principles to sample policies.

Key topics in this webcast on traditional life include the following: the GAAP balance sheet and statement reserve methods, GAAP profit emergence, GAAP assumptions and provisions for adverse deviation (PADs), deferred acquisition cost (DAC), benefit reserves, loss recognition, limited pay policies, mortality deterioration and reinsurance.

Whether you are new to GAAP or looking for an up-to-date refresher, this webcast will quickly bring you up to speed with the basic principles governing GAAP for traditional life insurance.

How the live webcast works and what it includes

You do not need any special equipment. On March 7, 2018, before 2:00 p.m. ET you will be sent detailed webcast instructions via email including the Web address for accessing the live-streaming broadcast presentation. Any handouts that are available will also be sent.

Please review the technical requirement sheet for the webcast platform with your IT department and make sure there aren’t firewall issues with audio streaming through your computers. You can test your computer using the following link to ensure the audio streaming is working properly:

In addition, if you have Windows 7, we recommend using Firefox, Chrome or Edge - not Internet Explorer 11 – in order to avoid problems with streaming audio.