Description: This discussion looks at: what period or combination of periods could reliably be used for valuation purposes, if the practice of applying the rate of disability to mixed lives in the construction of monetary tables is appropriate, and problems from the use of the assumed date at commencement of disability as contrasted with the use of the date at the end of the waiting period.

Description: A. Discusssion of the practical considerations involved in deciding whether or not to adopt projected mortality rates in connection with individual annuities, settlement options, retirement income policies, and the various forms of group annuities. B. In view of increased administrative expenses, discussion of the arguments for and against imposing limitations on the granting of settlement options with respect to size of policy, including the practicality of providing for the expense of administering supplementary contracts other than through the use of conservative mortality and interest assumptions.