Description: The purpose of this paper is to set forth a precise method of testing reserves based upon the time-honored accumulation formula, which requires the production of reserves and transactions by attained age.

Description: This panel at the SOA 1982 Orlando Spring Meeting discusses tax parity for individual life insurance companies and products. The focus is on some of the very basic issues of taxation as the industry begins planning for a longer range solution to the issues posed by the current tax structure.