Description: This article summarizes the findings of the 2020/2021 Milliman UL/IUL/VUL survey. The survey covers a range of specific product and actuarial issues and the results provide a good tool for benchmarking

Description: Summary of a survey conducted by Milliman of 28life insurers on the impact of AG49 and AG49-A on their Indexed Universal Life products.

Description: Accelerated underwriting expert, Ryan Holt, FSA, gives a brief history of the confusion matrix and how its use came into the accelerated underwriting space. An in depth discussion of estimating mortality impact using underwriting audits follows. Three key assumptions that effect mortality impact are discussed. Readers will leave with an understanding of how to estimate mortality impacts using audit results from any new under writing program as well as the considerations that should be taken around key assumptions. Background articles are provided for readers that are less familiar with the subject matter.

Description: This article analyzes, understands, and discusses the impact of the upcoming Principle-Based Reserving (PBR) on non-variable deferred annuities.

Description: This article covers the results of the elections for the 2013 product development section council. In particular, it gives the background on the following individuals who were newly elected to a 3-year term on the council: Vera Ljucovic, Jim Filmore, and Joe Kordovi. It also gives the background on Dave Moran who was chosen by the council for a 1-year term to replace a council member that had to step down prior to completing their 3-year term.

Description: Summary of the December 2003 NAIC Meeting

Description: This is a summary of the NAIC meeting held in September of 2008.

Description: In the June 2014 issue of Product Matters, Doug Robbins of Pacific Life authored a fascinating article entitled “Velocity of Diversification.” Therein, he proposed a pricing measure that describes the “…speed at which confidence in profitability is attained”. How can stochastic modeling of mortality be applied to analyze the velocity of diversification, and how would that measure be affected by volatility in the underlying assumptions?

Description: This article details different methods for calculating mortality impact associated with new underwriting programs. A common simplified calculation is compared and contrasted with two first principles approaches. The strengths and weaknesses of both approaches are discussed.

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.