Description: The life annuity mortality risk is the variation in actual financial experience of a group of annuitants from that expected, attributable to the mortality experience of the group. This paper investigated the mortality risk present in a single life annuity and determine the effect of age, sex, assumed interest rate, mortality table, and form of annuity on this risk. Then, it investigated the mortality risk in various portfolios of annuities. Followed by several discussion papers submitted

Description: This paper deals primarily with the actuarial aspects of a life insurance product providing complete flexibility in the pattern of premium payments- and benefits. This paper presented a framework around which a policy of the life-cycle family can be built. Discussion includes description of how the product might work, given the legal and operational constraints at the time. Also discussion of how compliance with the Standard Valuation Law and Standard Non forfeiture laws would be achieved. Followed by submitted discussions of the paper by various people

Description: Provides a theoretical basis for determining an insurer's price-earnings ratio, discusses the effect on earnings of changes in investment income, and discusses the effect on surplus and earnings of changes in reserve basis.

Description: This paper uses a Bayesian approach to persistency to explore retirement cost projection variability. The analysis is divided into two parts. In the first part a subjective population projection model is developed, based on a beta-binomial distribution for the number of participants persisting through a given age. Probability statements regarding such items as the number of participants at a given age and the distribution of retirees are developed. The second part shows how the model might be used to generate confidence intervals for retirement cost projections. Both the single-entry-age case and the multiple-entry-age case are considered. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: This paper describes a method of comparing net costs of dissimilar life insurance contracts. The principles are consistent with those of the interest-adjusted method recommended by the Moorhead committee. The significance of the results, possible applications of the method, and some concerns and conclusions are discussed.

Description: This paper describes a method of interest allocation which relies on a computerized model of invested assets. Characteristics of this method, known as the investment generation model method, are discussed in relation to other allocation methods in current use and in relation to desirable criteria of interest allocation given in this paper. The paper concludes by identifying important management benefits associated with this method of allocation. Followed by 2 discussion papers submitted

Description: This is a discussion about computer models and simulation tools for life insurance companies. From Transactions of Society of Actuaries 1969, Vol. 21, No. 59AB

Description: This paper considers the distribution of aggregate claims of an insurer. The general form of the distribution is considered initially, and, after a few mild restrictions are imposed, it is characterized as being a compound distribution. Followed by one submitted discussion paper.

Description: Examination of how mean reserve factors can best be calculated in light of the new accounting reporting requirements for the earnings of stock life insurance companies. Also examines some methods of expense amortization, including the reserve factor method, and also attempt to show an informative comparison of how reported calendar-year earnings can be expected to emerge with statutory mean reserve factors, natural mean reserve factors, and assorted expense amortization methods. Followed by several submitted discussion papers

Description: In this paper, the authors created a mathematical model which reflects typical relativities by age, duration of disablement, and deferment period for disability risk. The paper is followed by discussions submitted by various reviewers.