Description: Recently, there has been an increase in the product development of simplified issue products in the United States. In the past two years, Gen Re LifeHealth has reviewed over 40 such products, ranging from vanilla direct-marketed products to high-end single premium immediate annuity SPIA paid universal life products. From Small Talk Newsletter, June 2005, Issue No. 24.

Description: This article derives a recursion formula for determining life contingent annuity payments, and explains how it lends itself to use in computer programs.

Description: Summary of recent surveys to life actuaries regarding assumptions surrounding policyholder behavior in the tail for universal life with secondary guarantees and minimum guarantees on variable annuities. This information is intended to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios.

Description: This is a Pension Section News book review of 'Annuity Markets and Pension Reform,' by George A. 'Sandy' Mackenzie. The book has two main objectives. First, for public pension systems that plan to implement individual account reform, it provides a guide to the policies that should govern and regulate distributions from individual accounts. Second it considers the adequacy of the regulation and supervision of the annuity business, and how private annuity markets might function more efficiently.

Description: The article is an editorial on annuitant mortality over sixty years, 1923, 1943, 1963 and 1983.

Description: The Actuary Vol. 22, No. 7. This article describes the state of the insurance market in Japan in 1988. While traditional permanent policies abound, a variable life product was introduced in 1986.

Description: The rules governing the tax treatment of distributions from life insurance or annuity contracts are complex. Worse, the relevant IRC section, section 72, seems at times to be the product of a conspiracy in restraint of understanding.

Description: Update on a broad range of insurance and investment tax matters upon which ACLI is working, including: deficiency reserve guidance, IRS guidance on PBR/AG 43, Camp Financial Product Discussion Draft, FATCA and changes to non-forfeiture laws due to low interest rates

Description: The Canadian Institute of Actuaries held a panel discussion on product innovation at its June 1981 meeting. This article consists of edited excerpts from a document that was distributed in advance to stimulate discussion, and some remarks on the discussion that took place. This article discusses some of the products developed in response to the current high and volatile interest rate environment, such as flexible premium policies annuities and insurance and adjustable single premium policies.

Description: This paper highlights how the estimation procedure works in regards to annuities, including immediate life annuities.