Description: Article Society Seminars by Adams in The Actuary, February 1979, Volume 13, Number 2

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: This paper, originally published in 1969 in Transactions of Society of Actuaries Vol. 21, presents an analysis of the basic actuarial theory for life insurance policies with fixed premiums and variable benefits reflecting the investment performance of a separate account, where in its basic form, the policyholder bears the entire investment risk. The paper discusses various regulatory and other changes that would be needed or desirable, as well as variation in design such as minimum guarantees. Significant discussion is included, with over twenty individuals contributing in addition to the authors. The introduction to the Monograph notes that while not the first paper on this topic, it “clearly established the framework for subsequent developments of variable products.”

Description: Summary of the upcoming activities for the Smaller Insurance Company Section in 2016.

Description: Summary of NAIC's Winter National Meeting

Description: Discusses the reasons for, and the economic impacts of, the backdating of life insurance policies, and what changes in the industry might evolve to address them.

Description: A review of Actuarial Guideline AXXX

Description: This is a Fellowship Credit Research Paper. A portfolio of different insurance policies such as temporary, endowment and whole-life insurance policies is studied in a stochastic mortality and interest environment. The first two moments of the present value of the benefits of the portfolio are derived. The riskiness of the portfolio as measured by the variance of the present value of the benefits can be divided into an insurance risk and an investment risk in two different ways. One way leads to a more natural interpretation of the two risk components. A simple portfolio is used to illustrate the results.

Description: This article provides a summary of the results from a recent Milliman survey. Survey results provide UL/IUL carriers with a benchmark to evaluate their practices relative to those prevalent in the industry.

Description: Defines Accelerated Underwriting programs as a transformational trend, and outlines a process for evaluating mortality implications of such programs.