Description: The Actuary Vol. 22, No. 7. This article describes the state of the insurance market in Japan in 1988. While traditional permanent policies abound, a variable life product was introduced in 1986.

Description: The rules governing the tax treatment of distributions from life insurance or annuity contracts are complex. Worse, the relevant IRC section, section 72, seems at times to be the product of a conspiracy in restraint of understanding.

Description: A look back over 20 years to see how product topics of the day have changed and remained the same.

Description: Outlines a generic business model for a life insurance company and concludes with thoughts on future trends and prospects.

Description: Articles on IRS private letter rulings on combination products, IRS treatment of reinsurance under section 845, and IRS waivers for failed contracts under section 7702.

Description: This article examines the changes in U.S. regulatory reserve and risk-based capital requirements that will significantly impact the insurance industry and practicing actuaries. It summarizes activity related to principles-based reserves and risk-based capital initiatives during 2005.

Description: This article discusses the three main taxation proposals affecting holders of life insurance and deferred annuity policies announced on Friday, November 13, 1981 by the Federal Finance Minister in Canada. The main proposals are 1 taxation of accrued investment income on life and annuity policies, 2 changes in the adjusted cost basis at disposition of policies and 3 treatment of life insurance policies not registered as retirement savings plans.

Description: This article provides a short history of the correction procedures previously developed to address compliance failures and the shortcomings of those procedures under sections 101f and 7702, laying the foundation for a sea change in the correction process.

Description: Updates on partial annuitization and exhanges, prevailing CSO valuation mortality tables, disclosure of offshore accounts through FATCA.

Description: New chairperson’s column discussing his goals for the Product Development Section.