Description: This paper discusses the cause of the long-term financial problem of the Old-Age, Survivors, and Disability Insurance OASDI program, outlines an alternative actuarial financing approach for OASDI as a solution to this problem, and details the advantages of this approach over the current financing method. Followed by several discussion papers submitted

Description: The principal objective of this paper is to remind actuaries of the rather significant misconceptions and distortions commonly encountered in the use of individual accident and health insurance loss ratios. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: This paper examines the effects of selection procedures used in epidemiologic studies and suggests that similar procedures could be employed to select standard ordinary insurance risks at the older ages. The experience in this paper was developed from a prospective epidemiologic investigation launched by the American Cancer Society in the fall of 1959 to learn how personal characteristics, living styles, and environmental conditions influence health and longevity.

Description: The insurance reserve for an individual contract can be pictured as a quantity which changes continuously from moment to moment in response to the forces of interest and mortality. A different mathematical model arises for each method of defining the death benefit, and in this paper a number of such mathematical models are analyzed. Followed by discussion papers submitted by several authors

Description: Discussion papers on a paper dealing with minimum statutory nonforfeiture values for retirement annuity contracts.

Description: These were discussion papers on the paper, 'The Korean War Hazard' by James T. Phillips.

Description: This paper demonstrates how, under the projected benefit cost methods whereby the gains are reflected in the normal cost rate, gains determined at a given valuation date are amortized over the future working lifetime of the active employees included in the valuation as of that date.

Description: This paper was written to demonstrate that universal life and indeterminate premium products are similar to participating plans. Followed by several discussion papers submitted.

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: Section 818c of the Life Insurance Company Income Tax Act of 1959 provides, for companies holding other than net level premium reserves, a choice of two methods: exact revaluation or approximate revaluation to this basis. This paper discusses the impact of the choice on the level of a company's tax reserves. A discussion paper follows.