Description: This session challenges participants to consider the insurance landscape over the next five to ten years and how existing business models need to evolve. From the Record of the Society of Actuaries, Volume 27, No. 2, Session 19PD of the Toronto Spring Meeting.

Description: This session from the 2003 Washington D.C. Spring Meeting discusses a variety of risks that need to be considered in pricing life and annuity products. This session also reviews the results of the Risk Management Task Force Survey including how companies were measuring profit, how they were reflecting risk in pricing, how results were analyzed and how specific risks were being modeled. From the Record of the Society of Actuaries, Volume 29, No. 1, Session 7PD.

Description: This session from the 2003 SOA Orlando Meeting discusses the measures that are being taken to make underwriting requirements less stringent addressing simplified issue underwriting and table-shaving programs and the issues in developing products for these markets. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session is about the Report on Actuarial Principles and Practical Problems with Regard to Nonforfeiture Requirements but it also includes a summary of written responses to the Report, developments on the regulatory scene, and recent work of other committees studying nonforfeiture or related areas. From the 1976 Record, Vol. 2, No. 3.

Description: This session is about the philosophy and implications of investment income allocation for individual and group products, bases available for subdivision of investment income by line and within lines of business, applicability of new money rates to individual and group products, and regulatory restraints.

Description: This session from the 1992 Valuation Actuary Symposium covers recoverability and loss recognition including using cash flow testing to determine loss recognition or recoverability, actuarial standard of practice 14, and valuation work by line of business or issue-year groups.

Description: Presented at September 1995 Valuation Actuary Symposium. This session is about life and annuity valuation issues, particularly Standard Nonforfeiture Law, XXX, the Annuity Valuation Task Force activities, and separate accounts.

Description: This session at the 1998 Valuation Actuary Symposium discusses various issues of small companies including compliance with the illustration regulation and XXX reserves.

Description: The NAIC's 'Life Insurance Illustrations Model Regulation,' which goes into effect on January 1, 1997, is largely a response to the perceived misrepresentations in life insurance illustrations, of which vanishing premiums is a notorious example. From an actuarial perspective, this state of affairs presents an interesting challenge. Rather than disallowing illustrations of risky contracts, why not develop an illustration for potential policyholders which adequately conveys the essence of these contracts and their probabilistic nature. The purpose of this paper is to discuss some preliminary observations related to the development of such illustrations.

Description: The article summarizes results of a Milliman survey per the title. These products comprise about 40% of the total individual life market, and the survey covers a range of topics on these plans, which should be of interest to a large portion of the life industry.