Description: The Required Minimum Distribution [RMD] Working Group of the SOA Taxation Section has completed research identifying considerations for actuaries and annuity insurers in determing the actuarial present value of additional benefits for computing the RMD under a deferred annuity contract. This is the Appendix I spreadsheet for determining the Actuarial Present Value of an annuitization bonus. Please see the SOA website research for the full report and other associated spreadsheets.

Description: We're introducing a new “cutting edge” wealth accumulation predictive framework, the predictive equity analytics (PEA) for life products (annuity, insurance, group employer benefits, retirement plan). PEA enables life insurers and policyholders to avoid market downturns and capture returns from equities (stocks, ETFs and mutual funds) predicted to increase in next one to three trade days via fund prediction advisory by insurers, additionally by individual policyholders. The capability does not exist in insurance markets nor in financial intermediary markets.

Description: The Society of Actuaries will be offering this webinar series intended to educate and investigate aspects of life insurance, annuity, and long-term care product tax compliance. Developed by the Taxation Section, participants will be brought up to date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC) and allow ample opportunities for questions and information exchange. The session will look to define the “Product Tax Compliance" and "Information Reporting" Operational Risks associated with the administration of life insurance, annuity, and long-term care products. Panelists from leading insurance companies will discuss practical, real-life situations that they encountered and strategies they have used for risk mitigation.

Description: This 1980 session covers amendments to the SNL and SVL and the anticipated revision to the CSO Mortality Table. Questions discussed: 1. What changes can be expected in requirements in the1980's? 2. What changes in products design will likely emerge from these? 3. What will be the effect on future gross premium, cash value, and reserve levels? 4. Will these changes be compatible with all economic forecast scenarios? 5. Will these changes create a need for increased gross premium rates or for higher company surplus levels? 6. Should attention to solvency measures be increased? 7. Are the allowable valuation interest rates sufficiently liberal?

Description: This session from the 1992 Valuation Actuary Symposium covers recoverability and loss recognition including using cash flow testing to determine loss recognition or recoverability, actuarial standard of practice 14, and valuation work by line of business or issue-year groups.

Description: This general discussion looks at mortality experience with the advent of CSO tables, annuity premium tax, termination dividends, classes of agents included under Social Security, and conditions affecting companies entering the fields of disability income, accident, health, hospitalization and medical insurance.

Description: This session from the 1984 SOA Toronto Meeting discusses rear end loaded universal life policies and the Canadian view on rear end loads on life and annuity policies. From Record of the Society of Actuaries Vol. 10, No. 4

Description: At retirement, people face a choice between annuitization and self-management of liquid wealth [also called self-annuitization]. A common belief is that annuitization provides longevity insurance at the cost of liquidity. This paper argues that the desire for liquidity is actually driven by bequest motives and estate value should be the measure on the liquidity of a given strategy. The authors demonstrate that self-annuitization give more estate within a critical duration [before life expectancy] while annuitization creates more estate after that. In their second result, they compute the expected ending estate at death under these two strategies and find that, on average, annuitization creates more estate than self-annuitization under reasonable assumptions. They conclude that, as long as the same fund is being used for these two strategies, annuitization and self-annuitization just create different patterns of estates over time. However, annuitization is usually better than self-annuitization for estate creation and liquidity, on average. This is somewhat counter-intuitive to popular belief because payout annuities without a certain period do not have cash surrender values. The creation of the balance stream and the results shown in this paper have important implications on new product and marketing strategies for payout annuities.

Description: The author offers his proof that an annuity for the life expectancy exceeds a life annuity.

Description: This report presents mortality under individual immediate annuities, life income settlements, and matured deferred annuities between the 1971 and 1976 anniversaries.