Description: This is a discussion of the paper, 'Payment of Reserve in Addition to Face Amount' by Paul W. Nowlin and T. N. E. Greville, which discussed a method for determining the level premium for such coverage. This discussion applies risk theory to the insurance discussed in the paper.

Description: This article is a response to the article Current U.S. Ordinary Life Mortality by Doug Doll and Mike Jones. The author offers his interpretation of the mortality improvements observed between 1980-85 and 1983-88.

Description: This article compares computing a single premium for a decreasing term policy using continuous functions versus curtate functions.

Description: This paper uses a simple example to examine the relationship between the pricing objective of ROI and the corporate profit measure of ROE. Additionally, this paper examines the effect on ROI and ROE of growth in the amount of new business. From Product Development Section Monograph, M-AS99-3.

Description: Profitability of traditional life and health products has long been considered less sensitive to changes in interest rates than profitability of universal life, SPDAs, or other “interest-sensitive” products. Consequently, traditional products have often been priced with a single deterministic interest scenario.

Description: This is a general discussion reviewing the adaptation of machines and procedures for small companies utilizing the punch card method. The discussion also explores the topic of a waiver for premium disability in all policies and if current term premiums make fair provision for their share of overhead expenses. From Transactions of Society of Actuaries 1951, Vol. 3, No. 6.

Description: This report summarizes the results of a mortality and pricing survey. It indicates significant differences between the mortality assumptions for different product lines and even between different companies within a single product line. Widespread differences in mortality expectations between products may give individuals an advantage by acting on inefficiencies in the financial services market.

Description: This article discusses an update to a survey that focuses on how companies are trying to price for and understand the risks inherent in the products they sell.

Description: Feature article discussing what it means to be market-consistent and whether or not insurance products can be priced and valued in a market-consistent fashion. This article addresses the limits to market consistency by questioning whether there in fact can be a market-consistent level annual premium for a term life insurance contract.

Description: This paper outlines and illustrates the use of present value for the purpose of estimating future profits and in obtaining dividend scales. From Transactions of Society of Actuaries 1951, Vol. 3, No. 6.