Description: This editorial notes that a letter, appearing in this issue of The Actuary,’ may not be alone in maintaining that the vagaries of our regulatory system handicap companies to the point that United States policyholders get poorer value for their premium dollar than do those in other countries.’ The article goes on to discuss guaranteed surrender values, the state regulatory system in the U.S and other topics in addressing this question.

Description: This is a discussion of indexed coverages for individual contracts. It covers such topics as the history of indexed coverage in the U.S. and Canada and other countries and the possibilities for the ideal fully-indexed permanent life insurance and disability income plans.

Description: Describes how the mantra of 'tax cuts will pay for themselves" along with the political unwillingness to cut spending (extant since the 1980s), has led to this increasing debt problem in the U.S., reaching $17 trillion at time of writing. Other countries are behaving in a similar fashion, and it can be only a matter of time before the globe may reach another crisis, this time based on excessive government debt coupled with fewer interested investors.

Description: This presentation is a teaching session, number 98TS, from the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. The financial services industry is changing rapidly. Thirty years ago the industry made its profits from mortality and expense margins in premiums. Fifteen years ago it was interest margins on fixed annuities and universal life. Today profits come from fees on variable products, interest margin on fixed products, and mortality on term insurance. The instructors look to the future and discuss where profits will come from 10 years from now. Discussion from participants is included. From the Record of Society of Actuaries, Volume 26, No. 3.

Description: Variable Annuity DAC: A Survey of Current Practice by Laura J. Hay and Elizabeth Rogalin from The Financial Reporter, December 2002, Issue No. 51. Examines the DAC calculation for Variable Annuities and the possible write down of DAC under revised assumptions.

Description: From the 1960 Transactions Vol. 12 No. 32, this ‘Discussion of Subjects of Special Interest’ addresses the effects of the Group Annuity Federal Disclosure Act, problems resulting from its implementation, and whether the act has improved communications to employees.

Description: Identifies current trends and considerations when setting the mortality improvement assumption for individual life insurance in the US.

Description: Panelists, along with significant audience participation, discuss the proposed changes in tax law for life insurance [which became Section 7702A], company reactions [especially regarding in-force-dividend policy] to the dropping new-money yield rates available, the nascent long-term-care-insurance [LTCI] and accelerated death benefit [ADB] coverages, group universal life products [GULPs], leveraged corporate-owned life insurance [COLI], and the impact of the recent stock-market dip on variable universal life [VUL] sales. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: Feature article about how life insurance companies can manage the financial risk of life and annuity unclaimed property.

Description: From the 1960 Transactions Vol. 12 No. 32, this ‘Digest of Smaller Company Forum’ presentation discusses the industry trend toward lower premium life insurance policies in Canada and the U.S. The presenters address the extent to which this trend is occurring at smaller companies, steps being taken to encourage sales of policies with larger investment element, and the effects if future legislation were to provide additional tax benefits to policyholders.