Description: The article discusses court decisions on the tax basis and taxable gain in life insurance contracts.

Description: An interview with Sheryl Flum, chief, Branch 4, IRS Office of Associate Chief Counsel (Financial Institutions and Products) at the Internal Revenue Service, regarding her role at the IRS and current tax issues facing the life insurance industry.

Description: Digest of a panel discussion looking at problems arising in issuing limited amounts of life insurance without a war clause to active members of the Armed Forces, types of death losses the Actuary considers as war deaths not suited for in existing premium rates and problems created by the war from the standpoint of protective provisions in disability and accidental death clauses.

Description: Discussion of issues of particular interest to small insurance companies. Includes the following topics: A. Considerations governing the mortality bases used in determining for ordinary insurance for nonparticipating premium rates and for dividends. Mortality studies available to assess the suitability of available mortality tables or modifications of them. B. Advantages and disadvantages of special termination dividends or special quinquennial dividends. C. Desirability and feasibility of having separate dividend scales for policies which include disability benefits, double indemnity benefits or both. D. Relative advantages of a three-factor dividend system versus an experience premium system. Discussion of how the latter is applied.

Description: Section 807d of the IRC provides that the deductible reserve for a life insurance contract is the greater of net surrender value or the Federally Prescribed Reserve FPR calculated under prescribed interest rate and mortality assumptions, but in no event can the tax reserve exceed “aggregate statutory reserves” i.e., the statutory cap. This article logically concludes that deficiency reserves are included in the calculation of the statutory cap.

Description: Kory J. Olsen, Taxation Section chair, interviewed Walter Welsh, focusing on the ACLI, retirement issues, and insurance regulation.

Description: This article examines the relationship, future and current, between insurance agents and technology and determines that technology can enhance/optimize agents.

Description: These are the appendices to a report summarizing the results of a Delphi study to identify and debate possible new approaches or Blue Ocean Strategies to acquiring business by life insurers.

Description: This report summarizes the results of a Delphi study to identify and debate possible new approaches or Blue Ocean strategies to acquiring business by life insurers. Appendices are included.

Description: Discusses the modification of underwriting practices because of the 1951 Medical Impairment Study, classification adjustments, competitive pressures on ratings and expansion of substandard business.