Description: This is a discussion on valuation and examines small company reserves and methods used in valuing disability, double indemnity, family income and other benefits in determining the reserve released by voluntary terminations. From Transaction of Society of Actuaries 1950, Vol. 2, No. 3.

Description: This discussion looks at the valuation methods of small companies. From Transactions of Society of Actuaries 1951, Vol. 3, No. 6.

Description: This note suggests a simple approximate formula for the purpose of computing a terminal reserve when only mean reserves and net premiums are known. The author provides an expression for the error in this approximate formula and an exact formula for terminal reserves in terms of mean reserves, amounts of insurance, and a set of constants. From Transactions of Society of Actuaries 1951, Vol. 3, No. 6.

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 insurance reserve for an individual contract can be pictured as a quantity which changes continuously from moment to moment in response to the forces of interest and mortality. A different mathematical model arises for each method of defining the death benefit, and in this paper a number of such mathematical models are analyzed. Followed by discussion papers submitted by several authors

Description: Panel discussion of the following topics: A. Recent revisions been made in the mortality, interest, and expense assumptions upon which life insurance premium rates are based. B. Factors considered in recent revisions of premium rates for substandard risks. C. The extent to which deficiency reserves been required as a result of recent decreases in nonparticipating premium rates for life insurance D. Recent changes in disability premium rates for women.

Description: This paper develops explicit relationships connecting these reserve bases, and, in the course of this development, derives several new and interesting actuarial relationships, all of which can be generalized to the case of monthly premium payment computations. Followed by a discussion paper submitted

Description: This paper is concerned with the fundamental nature of life insurance company earnings. The operation of the policy reserve system as the timing mechanism which determines the incidence of earnings is discussed, and the concept of release from risk is then described. A policy reserve system based on the concept of release from risk is developed, and the earnings which emerge from this system are analyzed from both an actuarial and an accounting viewpoint. S ome specific p o l i c y r e s e r v e m e t h o d s a r e ident i f i ed a s spe c i a l c a s e s of t h e r e l e a s e f r o m r i sk p o l i c y r e s e r v e s y s t e m .

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 is a discussion about the issues smaller companies face with the 1958 CSO table and recent actions.