Description: Survey of post level term lapse and mortality assumptions for level term premium plans.

Description: This report presents the results of a survey of the actions companies took on their term products in response to the introduction of the NAIC Valuation of Life Insurance Policies Model Regulation, ‘Regulation XXX,’ and Actuarial Standard of Practice No. 40. The survey also explores the development of companies' X factors, the associated annual X factor certification process and how Regulation XXX impacts the companies' level term pricing. The survey was conducted by the Regulation XXX Survey Subcommittee of the Society of Actuaries Life Insurance Mortality and Underwriting Survey Committee. Common survey responses to Regulation XXX included consideration of reinsurance, changes in product design, the most common changes reported being the length of the guarantee period and the level of the gross premiums, and changing rates on existing products.

Description: This paper discusses the special considerations involved in pricing a select and ultimate annual renewable term product. It covers such areas as expenses, conversion costs, and profit calculation, and devotes particular attention to the relationship between mortality and withdrawals on this type of product. From Transactions of Society of Actuaries 1980, Vol. 32.

Description: This research project studies the post level premium period lapse and mortality assumptions and experience for level premium term plans with a particular focus on the magnitude and impact of the “shock lapse” at the end of the level premium period.

Description: This is a discussion on the title paper by Robert E. Larson. Included are discussions of how Larson's methods would work if applied in their companies.

Description: This paper is written as a sequel to that on Derivation of Premium Rates for Renewable Term Insurance. It is the purpose of this paper to present a method for deriving gross premiums for renewable term insurance of contemporary design, which are virtually independent of the rates of renewal. From Transactions of Society of Actuaries 1960, Vol. 12, No. 34.