Description: In session 83D of the Montreal Spring Meeting panelists discuss the option of using mortality improvements in pricing of life insurance products as an Actuarial Standard of Practice ASOP. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: The attached report presents the results of a survey whose purpose was to explore life insurance company practices regarding the use of a mortality improvement assumption in the pricing of life insurance products. The survey distinguished between updating base mortality tables for historical mortality improvement versus projecting mortality improvement into the future.

Description: Panelists discuss recent trends in the effects of mortality and lapse rates on term life insurance. The discussion includes: • Theories predicting the impact lapse rates have on mortality after the level premium period • Recent industry studies on mortality and lapses • The impact lapse and mortality rates have on profits

Description: This article gives examples of how an actuary can live by the actuarial motto of substituting facts for appearances. The specific examples given are setting the mortality for table shaved individual life business and setting late duration lapse assumptions for level term business.

Description: This is a discussion of indexed coverages for individual contracts. It covers such topics as the history of indexed coverage in the U.S. and Canada and other countries and the possibilities for the ideal fully-indexed permanent life insurance and disability income plans.

Description: In setting future mortality assumptions for pricing, the actuary needs to consider not only recent results and recent annualized mortality improvements, but also must look at the possible impact of possible shocks epidemics, wars, etc.

Description: This article contains a summary of some of the presentations given at the May 2013 SOA Life & Annuity Symposium. This article does not cover all sessions that are related to product development, but shares observations that have been made by various members of the SOA Product Development Section Council.

Description: The presenters in this classic session will explore protection and accumulation products as well discuss the current state of the hybrid Life/LTC market. They will also examine the latest trends and the challenges to innovation and highlight key factors impacting the product actuary including the impact of technology, regulation and competitive environment. 

Description: Presented at May 2005 Spring Meeting. Explores work to study the mortality experience of the older ages, the mortality costs to the insurer if the absolute level and shape of the pricing mortality curve is incorrect and the value of underwriting with regard to select vs. ultimate mortality.