Description: The Canadian Institute of Actuaries CIA recently updated its studies of lapse experience under universal life UL level cost of insurance COI and term-to-100 T100 policies. These studies can help U.S. actuaries set lapse assumptions for other lapse-supported products where no or little ultimate lapse experience exists, such as return of premium ROP term and UL with no lapse guarantees. The financial implications of overestimating ultimate lapse rates for these products can be significant.

Description: This article contains a summary of some of the presentations given at the May 2013 SOA Life & Annuity Symposium. This article does not cover all sessions that are related to product development, but shares observations that have been made by various members of the SOA Product Development Section Council.

Description: Discusses various historical and projected future rates of mortality improvement, with a focus on older ages, and more.

Description: This article discusses the opportunity for annuity carriers created by the SECURE Act to distribute annuities through Employer Sponsored Defined Contribution Retirement Plans. The article covers a high-level overview of the changes enacted by the law that create the opportunity, as well as the potential opportunity for future annuity sales.

Description: This article from the new chairperson, Donna Megregian, discusses the Product Development section of the Society of Actuaries.

Description: Update on section activities

Description: As term carriers continue dealing with the implementation of PBR, the 2017 CSO mortality table, accelerated underwriting programs and predictive models, one wonders what the next significant challenge will be for the term market. The implications of these changes are yet to be seen fully, and monitoring of the results will be important in the years to come. ...

Description: This article reports the maximum statutory valuation and nonforfeiture interest rates for calendar year 2004 issues of life insurance products and the maximum statutory valuation interest rates for calendar year 2003 issues of annuity products.

Description: Hear from the chairperson on themes in the June 2017 issue of Product Matters published by the Product Development Section.

Description: Milliman was engaged by the SOA to conduct two Accelerated Underwriting (AU) surveys, one of direct companies and another of reinsurers. The surveys explored actual results from 2019–2021 and expected results from 2022.