Description: Using the Cox proportional Hazards Model to improve underwriting debits and credits.

Description: Discussion the issues/difficulties associated with setting mortality assumptions for the later durations of life insurance illustrations. Because some UL products incorporate low cost of insurance charges in late durations as part of the current scale in the product design, some conclude that mortality improvement assumptions are being employed in the disciplined current scale, in violation of the Model Illustrations Regulation.

Description: This study was undertaken to review pooled companies’ mortality experience on cases reported to the MIB with findings suggesting an increased probability of ethanol-related complications or hepatic dysfunction.

Description: The manner in which the actuarial profession models and manages mortality risk is undergoing dramatic changes. New modeling techniques have led to better risk management tools. Capital markets solutions are evolving for insurers wishing to protect against unfavorable mortality developments in both life insurance and annuity products. In this session recent key developments in mortality modeling and in the transfer of mortality risk are examined. From Record of Society of Actuaries, Vol. 30, No. 3: Annual Meeting and Exhibit, New York, NY, October 24-27, 2004, Session 133 TS.

Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: Questions and answers related to the implementation of the 2012 Individual Annuity Reserving Table, including a projection scale example.

Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author, using the results of the 1951 mortality study on female life insurance beneficiaries receiving settlement options, where the face amount of insurance proceeds is converted to an annuity, quantifies the mortality differences between those electing an option who tend to have better mortality, and payees who have no option. In this paper the author determines the appropriate age setbacks for the payees electing an option, based on the actual mortality statistics.

Description: Recurrence relations arise naturally in life contingencies for 2 reasons - the aggregate law of mortality, which relates the distribution of the future life times of 2 insureds, if one of them and the other is that most life insurance products can be constructed as a portfolio of 2 basic product types. We use the above simple idea and the extra freedom provided by the fractional age distribution to reveal a structure behind some common recursions. The structure has obvious pedagogical value. More interestingly, a software based on it has been implemented which facilitates actuarial computing.

Description: Report covering the intercompany experience under standard Ordinary insurance issues between 1950 and 1951 anniversaries.

Description: A recent Society of Actuaries study calculates safety and stability for current Long Term Care Insurance premiums.