Description: Summary of Part II of the survey of Appointed Actuaries, sponsored by the American Academy of Actuaries Committee on Life Insurance Financia1 Reporting and the Society of Actuaries Financial Reporting Section, which asked appointed actuary various questions on methodology and assumptions employed for asset adequacy testing.

Description: The Occidental Life Insurance Company position paper: Mortality Fluctuation Reserve for Stock Life Insurance Companies is reproduced. The methods chosen are considered to conform to the Audit Guide for Stock Life Insurance Companies issued by the AICPA in December, 1972.

Description: The June 1987 report on UL valuation and nonforfeiture, by the American Academy of Actuaries Universal Life Task Force under the Committee on Life Insurance, discussed whether long-term UL reserve sufficiencies should offset short-term deficiencies. This article discusses that issue.

Description: This article describes the mortality tables that the Board of Governors of the Society of Actuaries is recommending to the NAIC as successors to the 1958 CSO Table

Description: This article makes a case for implementation of a mortality fluctuation reserve in GAAP accounting.

Description: As a result of over 30 states enacting Legislation permitting the use of an interest assumption as high as 4% in determining life insurance reserves, the Society of Actuaries Committee on Preparation and Publication of Monetary Values conducted a survey of insurance companies, consulting actuaries, and regulatory authorities to determine whether this change in legal valuation standards would create a need for the publication of 1958 CSO Monetary Values volumes at 4% interest. After a review of the results of this survey and a study of the computing and printing costs of such a project, the Society’s Board of Governors has authorized the Committee to solicit orders for such volumes.

Description: An increasingly popular tool in estate planning is the Joint Life policy payable upon the second death. The design and pricing of this policy is influenced significantly by cash value and reserve requirements. This article discusses two methods for calculating these values.

Description: Reports on the Florida winter meeting of the NAIC’s Life and Health Actuarial Task Force, LHATF, regarding an agreement that was reached on an approach to be taken to reconstitute the Standard Valuation Law, SVL, applicable to life insurers.

Description: Documents the error in the Smoker/Nonsmoker CSO Tables accepted by the NAIC, and the expected approval of the NAIC to accept use of both the erroneous and the correct mortality rates for all regulatory purposes.

Description: The author explores reasons why blocks of business may become legacy blocks and discusses ways to decrease the likelihood of legacy blocks in the future.