Description: The purpose of this paper is to outline the development of a critical illness rider to be launched on a guaranteed level term product. The paper addresses the following topics: market needs analysis, design considerations, benefit design, pricing assumption, and development of pricing model and pricing results, including sensitivity testing.

Description: The Society of Actuaries’ (SOA) Aging and Retirement Strategic Research Program in collaboration with the International Association of Black Actuaries (IABA) and the Organization of Latino Actuaries (OLA) are pleased to publish this essay collection on Aging and Retirement Issues in People of Different Races and Ethnicities. This effort explores how differences in wealth and retirement outcomes are experienced by people of different races and ethnicities and promotes a better understanding of the underlying issues surrounding the differences.

Description: Family structures have expanded in recent decades and so have some beneficiary forms in insurance, banking and investment accounts. This essay includes suggestions for further expansion of those little-discussed but very important forms.

Description: Public DB plans have fatal designs such as basing benefits on a few years of earnings. Redesigning DB to be similar to SS will alleviate solvency challenges.

Description: This essay collection, which shares thoughts and opinions on the current and potential impact that structure, roles and dynamics of families have on retirement security in the United States.

Description: In any model, assumptions are necessary to generate output. Typically, the model is run with varying assumptions to determine how sensitive the output is to the input. But what if the philosophy of generating assumptions is flawed?

Description: This paper will provide demonstrations of the following three statements: That the calculation of principles-based reserves should ignore federal income taxes That the currently required statutory deferred tax calculation would need to be changed to permit an appropriate deferred tax asset to accompany such reserve so that the result can be correctly principles-based on a post-tax basis That the Tax DAC, pursuant to Section 848 of the Internal Revenue Code, is effectively a negative tax reserve.

Description: E-book contains 16 topical essays that express the opinions and thoughts of a number of authors on the subject of Investment Fallacies.

Description: The Society of Actuaries Research Institute’s Aging and Retirement Strategic Research Program is pleased to release a collection of essays addressing the impact of inflation on retirement and retirement-related issues.

Description: Complex models can provide a false sense of security, hiding the evidence that the entire range of indications may hinge on one or two key assumptions. Use data-driven assumptions, making sure the time series includes stressed environments when possible. If a model of underwriting risk indicates that the probability of accident year combined ratios experienced from 1998 to 2000 is remote, it is not a realistic model