Description: This paper considers the risk that actual mortality will be lower than the mortality assumed when pricing life annuities on impaired lives. It develops a method for managing this risk through a Provision for Adverse Deviation PAD.

Description: This paper is an analysis of the mortality rates of beneficiaries of charitable gift annuities.

Description: Over the last several decades, mortality trends and life expectancies in developed countries have been improving and are expected to continue to improve in the future. This paper discusses issues of longevity risk and volatility faced by small defined-benefit DB pension plans in Canada and outlines the opportunities available for entrepreneurial insurance companies interested in providing solutions to address these issues.

Description: The NAIC approved the 2012 Individual Annuity Reserve table as the standard for computing reserves for individual annuity contracts and developed a model law regulation for states to adopt. On February 17th, 2015, ACLI submitted a letter to Alexis MacIvor, Chief of the Insurance Branch in the IRS Office of Chief Counsel, notifying her that as of December 24, 2014, 26 states had approved the 2012 IAR Table as the reserve standard for immediate annuity contracts issued on or after January 1, 2015. The letter thus confirms that the 2012 IAR Table is the Prevailing Commissioners' Standard Table for purposes of computing life insurance reserves under section 807(d) of the Code for individual annuity contracts.

Description: This presentation from Session 17 of the SOA 2004 San Antonio Spring Meeting focuses on new product concepts that are emerging to capture the huge emerging retirement market. Panelists discuss concepts such as incorporating defined benefit concepts into defined contribution plans, insuring the longevity tail, innovations in 'traditional' annuities, 412i insured pension plans for small businesses, and highly impaired care annuities for people already incurring long-term-care costs.. From the Record of the Society of Actuaries, Volume 30, No. 2.

Description: Discusses the titled paper by McCarter regarding a new payout annuity mortality table and with projections.

Description: This paper was presented at the 1956 Society of Actuaries Eastern Spring Meeting, held April 19-20 in Hartford, CT. The author discusses the significant growth of immediate annuities, primarily through settlement options, and recent annuitant mortality improvement trends and experience studies, including a new mortality table, the proposed 1955 American Annuity Table. The author notes the main purpose of his paper is to propose a graded rate system for life income settlement options that is detailed enough to be equitable, yet simple enough to be understood by the policyholder. From Transactions of Society of Actuaries 1956 Volume 8, Number 21.

Description: Embedded Risk in Settlement Options on Older Life and Annuity Contracts

Description: Contains two separate articles, called notes. The first note, “A note on correlation in mean variance portfolio theory,” is an elementary discussion of how negative correlation coefficients can be, given any set of N random variables. The second note, “Two essential formulas in actuarial science and financial mathematics,” gives a more or less self-contained introduction to Jensen’s inequality and to another formula, which the author decided to call the “survival function expectation formula.”

Description: Report covering the mortality experience from 1945 to 1950 anniversaries under the following three major categories of contracts: 1. Life income settlements arising out of death claims 2. Life income settlements arising out of the maturity of endowment or retirement income policies or the cash surrender of insurance or annuity contracts 3. Maturities of deferred annuity contracts