Description: Whether included at inception or added later, and whether insured or not, death benefits will be here regarded as distinctly secondary to retirement benefits. This paper is followed by a discussion. From Transactions of Society of Actuaries 1958, Vol. 10, No. 26.

Description: Section 818c of the Life Insurance Company Income Tax Act of 1959 provides, for companies holding other than net level premium reserves, a choice of two methods: exact revaluation or approximate revaluation to this basis. This paper discusses the impact of the choice on the level of a company's tax reserves. A discussion paper follows.

Description: This article contains reviews of the following books: 1. 'Medicare' by Robert J. Myers, 2. 'Theory and Problems of Numerical Analysis' by Francis Scheid, 3. 'A Short Introduction to Numerical Analysis' by M. V. Wilkes, 4. 'Introductory Numerical Analysis' by Anthony J. Pettofrezzo, 5. 'Insurance Coverage for Mental Illness' by J. F. Follmann, Jr., 6. 'The Demograpky of Tropical Africa' by William Brass et al., 7. 'Successful Profit Sharing Plans: Theory and Practice' by Donald X. Murray, 8. 'Cost Facts on Life Insurance' edited by Price Gaines, Jr., and 9. 'Life Insurance Theory and Practice' by Robert I. Mehr. Notices of other studies and articles are also included. From Transactions of Society of Actuaries 1970, Vol. 22, Pt. 1, No. 64.

Description: This discussion at the SOA 1968 Philadephia and Los Angeles Regional Meetings covers adjusted earnings for insurance companies including definition, how it is used, and approaches for different lines of business.

Description: This paper discusses the Bayesian graduation method of Kimeldorf and Jones and develops methods for managing four technical problems in their method. It also includes a discussion of the paper. From Transactions of Society of Actuaries 1977, Vol. 29.

Description: Gross premium calculation methods may be arbitrarily separated into: a- Type 1 methods those which initially have commissions and other per cent of premium expenses in the denominator and b- Type 2 methods those which initially have commissions and other per cent of premium expenses in the numerator. The traditional Type 1 methods directly calculate the gross premium. The purpose of this paper is: 1. to present a Type 1 method of gross premium calculation which does the following: a Incorporates the cost of reinsurance into the gross premium calculation and may be shown as a level annual cost over the gross premium calculation period. b Calculates the effect on profit margins of a change in the retention limit without redoing the original calculation. c Calculates the premiums needed to break even e.g., amortize the initial investment in surplus at the end of each policy year as a by-product. d Calculates the profit or loss generated in each policy year or over any number of policy years for any gross premium without redoing the original calculation or first using a trial gross premium. e Directly solves for the gross premium that will produce any specified profit over any number of policy years without redoing the original calculation or first using a trial gross premium. f Directly solves for the premium that will produce a specified yield on surplus invested in new business by a flexible technique not first involving the use of the renewal net premium or any other preliminary gross premium. 2. to provide a mathematical definition of a financially meaningful average policy size which recognizes the cost of reinsurance. 3. to provide for mathematical definitions of common measures of profit, and the mathematical relationships between them. 4. To establish formulas expressing the effect of changes in various assumptions used in the gross premium calculation as a lev

Description: Topics: Financial strength issues related to formation of new companies, and content of SOA's spring programs and discussion rules.

Description: This is a discussion of the paper, A General Method of Calculating Experience Net Extra Premiums Based on the Standard Net Amount at Risk by Walter Shur.

Description: This is the discussion of the paper by J. Alan Lauer that develops the apportionate basis for the immediate payment of claims as an alternative to continuous functions. A new function, the apportionable annuity due, is defined and derived and formulas for net premiums and terminal reserves on the apportionable basis are developed. Then an investigation is made of the relationship of net premiums and terminal reserves on the apportionable basis to the corresponding functions on the continuous functions basis.

Description: This report explores ratemaking, examines the relationship of gross premiums and profit margins, suggests criteria for measuring contingency and profit margins, discusses the types of assumptions suitable for calculating nonparticipating rates and presents the mathematical technique to determine the premium. A discussion of the paper follows.