Description: The article discusses the developments thus far with the adoption of the NAIC Valuation Manual and what steps still lie ahead. It also discusses the NAIC Life Actuarial Task Force’s response to the NAIC’s VM-20 Impact Study. In general, outcomes of the Phase III testing support the suggestion that the modifications made to VM-20 as a result of the NAIC Impact Study made progress in addressing the excessive conservatism demonstrated in the Phase I and Phase II testing.

Description: Feature article discussing fixed indexed annuity (FIA) products with guaranteed lifetime withdrawal benefit (GLWB) riders.

Description: A pension actuary and a life actuary collaborate to express public pension liability and asset issues in terms and figures that an insurer would use

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: Fixed Annuities—Product Design and Investment Considerations

Description: This article is a summary of a session at the SOA 1997 Annual Meeting that focused on opportunities for selling insurance and annuities through banks.

Description: This paper proves the formula representing the present value of an annuity of 1 per year payable m times per year as l - v divided by the interest factor that corresponds to the timing of the payments is seen to hold regardless of the relationship between the payment frequency and the compounding frequency. From the Actuarial Research Clearing House, 1994, Vol. 2.

Description: Why Write Variable Products When You Can Put the Money Directly into the Stock Market?

Description: Author cites examples of benefits of smaller companies.

Description: The article summarizes and comments on a recent IRS Chief Counsel Advice that addressed how the proration formula works for purposes of the separate account dividends received deduction in the context of a partnership structure. The article explains the historical background of the proration formula as it appeared in the 1959 Act and the differences between how the applies and affects the dividends received deduction in the partnership structure versus the more tradition RIC structure.