Description: The author demonstrates the error in valuing a life annuity by using the amount of an annuity-certain for a period equal to the expectation of life.

Description: Updates on partial annuitization and exhanges, prevailing CSO valuation mortality tables, disclosure of offshore accounts through FATCA.

Description: Articles on IRS private letter rulings on combination products, IRS treatment of reinsurance under section 845, and IRS waivers for failed contracts under section 7702.

Description: Product Development Section’s election results, and bio's of new members.

Description: Impaired annuities - a niche product marketed to people at the “at-need” edge of long-term care and has the potential to instruct in bridging the gap for the products now being marketed to people “pre-need.” From Long-Term Care, Dec 2003, Issue No. 10

Description: New chairperson’s column discussing his goals for the Product Development Section.

Description: Diagram displaying the relationships between the various annuity certain functions.

Description: Update on a broad range of insurance and investment tax matters upon which ACLI is working, including: deficiency reserve guidance, IRS guidance on PBR/AG 43, Camp Financial Product Discussion Draft, FATCA and changes to non-forfeiture laws due to low interest rates

Description: This article examines how the choice of the rebalancing frequency in a variable annuity hedging program impacts hedging.

Description: VM-22 was first introduced into the Valuation Manual in 2018. A number of changes have been made since its introduction, with more expected on the way. This article compares valuation requirements for income annuities pre- and post-VM-22, discusses technical and implementation implications with regards to VM-22 (including comparison with New York Regulation 213), and considers future revisions.