Description: The insurance reserve for an individual contract can be pictured as a quantity which changes continuously from moment to moment in response to the forces of interest and mortality. A different mathematical model arises for each method of defining the death benefit, and in this paper a number of such mathematical models are analyzed. Followed by discussion papers submitted by several authors

Description: This paper presents a model designed to help actuaries analyze and quantify C3 risk, which is the risk of loss due to changes in interest rates or the shape of the yield curve.

Description: This paper addresses pricing stop loss insurance by employee for two benefits combined when the available information included a claims probability distribution for each benefit and the correlation coefficient between the benefits. From Actuarial Research Clearing House 1991, VOL. 1

Description: This paper by John Mereu describes a method for mathematically computing the expected loss under a group life contract in excess of a stated limit. The paper also shows how to compute the variance and standard deviation of the stop-loss claim and suggests how the method can be extended to group insurance benefits where the claim amount per certificate is not fixed. Paper is followed by discussions from several people

Description: This paper looks at underwriting and changes in practice as a result of the Build and Blood Pressure Study, if there is a tendency for companies to liberalize their underwriting standards in light of recent favorable mortality and recent changes in nonmedical limits. From Transactions of Society of Actuaries 1960, Vol. 12, No. 33.

Description: The paper discusses the optimal design of dividend - or premium refund - formulas that occur in connection with group insurance contracts. Sample formulas are provided and analyzed from a statistical analysis perspective . Followed by 2 discussion papers submitted

Description: This is the discussion of the paper by J. Alan Lauer that develops the apportionate basis for the immediate payment of claims as an alternative to continuous functions. A new function, the apportionable annuity due, is defined and derived and formulas for net premiums and terminal reserves on the apportionable basis are developed. Then an investigation is made of the relationship of net premiums and terminal reserves on the apportionable basis to the corresponding functions on the continuous functions basis.

Description: Discusses: 1. The Guaranteed Insurability Option - how have companies been promoting and problems that have been encountered 2. Insurance at age zero - with drop in mortality under 1958 CSO, will more companies offer, mortality experience and underwriting, the effect in Canada of the removal of the graded amount requirement from the Uniform Insurance Acts.

Description: This paper describes how Markov chain Monte Carlo and related methods recently presented in the statistical literature can be used to quickly and efficiently simulate random draws from distributions with log-concave or nearly log-concave densities. From Transactions of Society of Actuaries 1995, Vol. 47.

Description: The method in this paper is to derive expressions for mortality between integral values of age underlying the typical approximations employed, and to compare such expressions. Annuity and life reserve formulas are compared. Discussions of the paper are included.