Description: Discusses the use of a valuation basis involving the use of two interest rates, which solves the deficiency reserve problem without requiring the abandonment of either low gross premiums or relatively high withdrawal values.

Description: Milliman, Inc. Milliman was retained by the Society of Actuaries SOA to perform certain actuarial analyses with respect to the Z-Factor methodology under a principles-based approach PBA to statutory reserve and capital. Under PBA, the Z-Factor is a measure of margin in excess of the best estimate assumptions embedded in the statutory reserves of a life insurance product or block of business.

Description: This actuarial note is in the nature of an addendum to the paper describing the development of the Commissioners 1960 Standard Group Mortality Table and the 1961 Standard Group Life Insurance Premium Rates based thereon 'TSA, XIII, 586'. A comparison of Canadian to US mortality is made, with this data being used to develop minimum term premiums for Canada.

Description: Excerpts from Yee's presentation on the S-Curve reserve for Universal life. The S-Curve represents a distribution of amount of assets needed under 550 scenarios which, together with future premiums, will fund all future policy benefits and expenses. The reserve is a specific point on the Curve.

Description: Description of a method of calculating life insurance reserves when more than one life is involved. Followed by a discussion paper submitted

Description: The purposes of this note from the Transactions of Society of Actuaries 1963, Vol. 15, Pt. 1, No. 43 are to contrast the growth of the net level premium reserve and the growth of the cash value, in a policy paying the cash value if greater type of death benefit, and to suggest an unconventional surrender charge that will cause the net level premium reserve for such a policy to grow at an interest rate alone during the period when the death benefit is the cash value.

Description: The paper 'Analysis of Basic Actuarial Theory for Fixed Premium Variable Benefit Life Insurance' by Messrs. Fraser, Miller, and Sternhell presents one approach to variable life insurance, and the discussions which follow it explore some alternative formulas for reserve calculations.

Description: Discussion of the paper 'The Effect of Varying Interest Rates' by Charles Connolly.

Description: This is an actuarial note presenting a valuation method for retirement income endowment policies. From Transactions of Society of Actuaries 1949, Vol. 1, No. 1.

Description: This note is motivated by Section 7.4 of Actuarial Mathematics. Consider two different fully-discrete policies issued to x, each for a unit of life insurance during the first h years. Here, h is less than or equal to the shorter of the two premium-payment periods.