Description: From a panel discussion session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Panelists discuss the several issues regarding the 2001 CSO table. Attendees explored the implications for statutory reserving in general, implications for reserving under Regulation XXX, implications for the tax definition of life insurance, and other broad strategic issues. The timeframe and adoption mechanics for statutory reserving, tax reserving, and Section 7702 were also discussed.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 The National Association of Insurance Commissioners NAIC Valuation of Life Insurance Policies Model Regulation XXX sets forth the valuation requirements for life insurance with nonlevel premiums or nonlevel benefits, including term insurance and universal life with certain underlying guarantees. Panelists discussed the issues around implementation of the requirements. The issues discussed include: • Determination of X factors when no credible company mortality exists • Proper treatment of secondary guarantees in universal life insurance • Preparation of the mortality assumption opinion requirements • Impacts on product development and design

Description: Discussion of the relationship of IRR to ROI on a Level Term Life insurance policy