Description: This 1980 session covers amendments to the SNL and SVL and the anticipated revision to the CSO Mortality Table. Questions discussed: 1. What changes can be expected in requirements in the1980's? 2. What changes in products design will likely emerge from these? 3. What will be the effect on future gross premium, cash value, and reserve levels? 4. Will these changes be compatible with all economic forecast scenarios? 5. Will these changes create a need for increased gross premium rates or for higher company surplus levels? 6. Should attention to solvency measures be increased? 7. Are the allowable valuation interest rates sufficiently liberal?

Description: Zip files of the 2001–02 Group Annuity Pivot Tables.

Description: This general discussion looks at mortality experience with the advent of CSO tables, annuity premium tax, termination dividends, classes of agents included under Social Security, and conditions affecting companies entering the fields of disability income, accident, health, hospitalization and medical insurance.

Description: We devise an approach, using tobit models for modeling annuity lapse rates. The approach is based on data provided by the Society of Actuaries’ Risk Management Task Force. Kim [2005a] models annuity lapse rates using a logit model and the same US data (he also used Korean data separately). We find that the tobit model is a more than suitable approach for all levels of the explanatory variables including interest rates, unemployment rates, and GDP growth rates. Specifically, policyholder behavior in the tail of the distribution of lapse rates is explained as well as it is in the normal range of lapse rates.

Description: The speaker will share his insights into the hedging challenges faced by FIA and VA business in the current market environment.

Description: This article provides a short history of the correction procedures previously developed to address compliance failures and the shortcomings of those procedures under sections 101f and 7702, laying the foundation for a sea change in the correction process.

Description: An overview of the evolution of equity-based guarantees (e.g. VA, FIA, etc.) over the last few years and discussion the current lay of the land as it relates to the regulatory, issues, capital markets environment in which these products are offered.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.

Description: An exploration of drivers, cohorts and dynamics for policyholder behavior for VA and FIA based on industry experience data, including changes in recent years and the emergence of long-term data in key areas. We will also discuss critical elements to developing a sustainable and coherent framework to translate this complex experience data into assumption models.

Description: Panelists at this session of the SOA 2003 Washington, DC Spring Meeting discuss how changes in interest rates affect the assets and liabilities of a life insurance company and what a company can do to prepare. This session examines historical trends in interest rates and how companies have reacted to both sudden and gradual changes.