Description: This paper develops the theoretical formula for the face amount under the New York Life variable life insurance design, introduced in the paper 'Analysis of Basic Actuarial Theory for Fixed Premium Variable Benefit Life Insurance,' adapted to a daily basis and also provides a simplified approximation of this formula. A formula for daily net premium is also derived.

Description: A discussion of an alternative valuation methodology which addresses many of the shortcomings of the current valuation system for U.S. life and health insurers one of which is the proliferation of undesirable variations in state requirements. Issue No. 37

Description: More Efficient Monte Carlo Simulations for Mortality Assumption Testing

Description: The author explores reasons why blocks of business may become legacy blocks and discusses ways to decrease the likelihood of legacy blocks in the future.

Description: In-depth discussion about the experiences of companies with plans like level-premium term to 100, in both U.S. and Canada: pricing considerations and techniques, lapse experience, sensitivity testing, regulatory history and recent activity, and establishing an adequate reserve. From the 1987 Record of Society of Actuaries Vol. 13, No. 4A.

Description: The April 2016 Issue of The Modeling Platform

Description: This paper reviews recursive formulas for aggregate claim distributions. Followed by a submitted discussion paper

Description: This literature guide focuses on the distribution costs, especially the field compensation costs, that are incurred through the traditional general agency, branch office or brokerage structures for individual life, annuity and disability products.

Description: Addresses U.K. actuarial discussion regarding “maturity guarantees”, i.e., the reserves necessary to support promises contained in investment-linked contracts.

Description: The purpose of this article is to discuss potential issues and considerations that may be encountered with the implementation of VM 20. Crucial considerations include the modeling software used, validation effort, assumptions used, complexity of the process, documentation, and run time. A key takeaway is that an integrated modeling platform with solid automation and asset-liability capabilities is imperative for addressing the issues and considerations encountered.