Description: Highlights of the 1997 International Underwriting Congress with an in depth discussion of 1 critical illness policies and 2 Use of population data where little insurance data exists.

Description: This article is to outline the new requirements for valuation rates in VM-22, highlighting key differences and example calculations to enhance understanding.

Description: This article examines potential impacts of old age mortality and how it affects maturity extension riders for universal life.

Description: The article discusses the developments thus far with the adoption of the NAIC Valuation Manual and what steps still lie ahead. It also discusses the NAIC Life Actuarial Task Force’s response to the NAIC’s VM-20 Impact Study. In general, outcomes of the Phase III testing support the suggestion that the modifications made to VM-20 as a result of the NAIC Impact Study made progress in addressing the excessive conservatism demonstrated in the Phase I and Phase II testing.

Description: Investors in the Life Settlements Market have had to rely on simple actual to expected analyses for a quality assesment of life expectancy reports. This article presents an alternative validation methodology, which makes much better use of the available mortality information. Investors can thereby perform their own, statistically conclusive, analyses concerning the life expectancies on which they have based their pricing and management of future cash flows.

Description: Basic discussion of premiums paid, investment in the contract, and basis as used in IRC provisions applicable to life insurance and annuity contracts.

Description: The article endorses broader use of lifetime income in DC plans. It explains why the use of DB plans will continue to decline. The article points out that plans sponsors will not willingly take on additional ERISA fiduciary exposure. The article endorses three regulatory reforms that would increase the use of lifetime income in DC plans. 1. A robust annuity issuer safe harbor that would free employers from fiduciary exposure for putting an annuity provider on the DC platform. 2. A requirement that a plan offer a lifetime income option to qualify for the 404(c) safe harbor. 3. A revision to 404(c) to allow plan sponsors to allocate part or all of the employer match to lifetime income.

Description: I recommend a Social Security deferral product, and two annuity enhancements. I then discuss the challenges faced in getting such products distributed.

Description: Health Watch, Issue 79, December 2015, Health Watch