Description: Discusses the results of the SOA’s 2009 UL secondary guarantee study conducted by the Policy Behavior in the Tail PBITT working group.

Description: Tillinghast conducted a survey of mortality tables that life insurance companies used for pricing life products in 2001. One objective was to determine the underlying table being used, and the prospects of the 2001 CSO-related tables becoming a new basis for mortality measurement. This article summarizes some of the results.

Description: Long-term guarantees place unanticipated burdens on companies because of the degree to which the environment can change. These risks are compounded when combined with estimation of policyholder behavior, especially when solid experience data is not available. When risks are properly reflected, long-term guarantees do not always provide value to the customer in excess of the manufacturing cost. The product development actuary is challenged to compare customer value to company cost and use that measurement to identify novel ways to design products to better serve customers.

Description: Discussion of NAIC efforts to amend the annuity nonforfeiture laws to respond to falling interest rates.

Description: Discussion of possible hedging strategies for offsetting the investment risk for variable annuities, especially those with guaranteed benefits.

Description: The second part of a two-part Canadian Corner article on Segregated Fund Guarantees. Part I ran in the June 1998 issue of Product Development News.

Description: This article reviews the topics discussed at the December 2004 meeting of the Life and Health Actuarial task force. The covered topics include Actuarial Guideline 38 and Reserves for Variable Annuities C-3 Phase 2 reserves.

Description: The heart of a reinsurance arrangement is that a loss by the direct writer will be covered. The risk that coverage may be lost can be managed—practical steps can be taken to ensure that the ceding company and reinsurer remain in agreement about what business is and is not covered under the terms and conditions of the reinsurance agreement.

Description: Summary of annual Milliman UL/IUL Issues Report, covering issues and challenges of these products.

Description: SOA Product Development Section Contest Winning Article. Contest was to provide a creative article on future technology for the life insurance industry.