Description: Task Force report on life insurance company sales illustration practices from the perspective of the consumer. The study analyzes how well current illustration practices serve their primary functions of: 1. showing the consumer their policy values and premium payments over time, and 2. projecting best estimates of future performance and providing cost and performance comparisons with other policies.

Description: The attached report presents the results of a survey whose purpose was to explore the various uses of technology by life insurance companies. The survey was conducted by the Technology Survey Subcommittee of the Society of Actuaries Life Insurance Mortality and Underwriting Survey Committee. The primary focus of this survey was the impact of technology on mortality studies and underwriting.

Description: This report presents the results of the Survey on Business Decision practices of reinsurers conducted by the Society of Actuaries Committee on Life Insurance Mortality and Underwriting Surveys . A survey of direct writers of life insurance is reported separately.

Description: The primary purpose of this paper is to present an alternative method of determining the profitability of the premium for a return of premium benefit through the use of a limited simulation program. Also discussed are necessary reserves for a return of premium benefit. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 73.

Description: The primary purpose of this paper is to present some current company practices with respect to term insurance, and the respective cash value requirements imposed by the state insurance departments. Submitted papers from several authors discussing the report followed.

Description: This paper analyzes the U. S. Treasury monthly interest rates from 1953 to 1992, and the daily rates from 1981 to 1992 for various forms of chaotic behavior. The primary analysis was in determining the Burst Exponent by the use of Rescaled Range Analysis. This paper also discusses other possible uses of Fractional Brownian Motion in Finance Theory, Macroeconomics, and Actuarial Science. From Actuarial Research Clearing House 1994 VOL. 1.

Description: The Society of Actuaries Health Benefit Systems Practice Advancement Committee sponsored this review of recent academic literature on the US healthcare system covering quality, access, costs

Description: This is an excel spreadsheet showing Appendix F, Relative Risk, of the 2008 Valuation Basic Table Report and Tables. The full report describes the development of the 2008 Valuation Basic Tables. It incorporates the Primary Tables, the Relative Risk Tables, and the Limited Underwriting tables. Please see the SOA website experience studies for the full report and all other related tables.

Description: This paper presents an introduction to collective risk theory. In collective risk theory one seeks to investigate directly the risk enterprise as a whole. Primary interest is focused not upon the gains, losses, or claims from individual policies but upon the amount of total claims or the total gain arising from all the policies in the portfolio considered. Followed by several discussion papers submitted.

Description: This report utilizes a literature review, company survey, company interviews and/or other methods to catalog a listing of common living benefit riders. It was sponsored by the Product Development and Reinsurance Sections along with the Committee on Life Insurance Research. This paper has several goals in relation to each living benefit rider type: to define various living benefit riders, to provide historical sales data and general filing requirements, to explore how underwriting and administration is handled, and to comment briefly on the overall level of claims activity experienced thus far compared to pricing expectations. In addition, it includes a review of the direct and reinsurance pricing implications of the riders to the extent they impact policyholder optionality and base plan financial characteristics. This paper includes perspectives developed through the experience of the authors, and includes executive summaries of a survey conducted by the SOA and Milliman of 34 direct writers, and interviews that Milliman conducted with 8 reinsurers.