Description: This 1978 panel discussion examined dividend philosophy. Topics covered: I. The appropriate basis of dividend illustrations 2. The professional responsibility of the actuary in the establishment of dividend scales and in dividend illustration practices 3. The need for professional opinions and guidelines concerning policyholder dividends and illustrations 4. The adequacy of the recommendations of the Committee on Dividend Philosophy in addressing current concerns. 5. Differences between the approach of the Cormnittee on Dividend Philosophy and the traditional approaches. 6. The development of dividends for participating products in stock companies.

Description: This paper summarizes traditional actuarial thinking on individual policy dividends and some of the current concerns, covering dividend class, reserves and nonforfeiture values on dividends, terminal dividends, dividend illustrations and changes in dividend scales. From Transactions of Society of Actuaries 1978, Vol. 30.