Description: This session from the 1984 SOA Toronto Meeting discusses rear end loaded universal life policies and the Canadian view on rear end loads on life and annuity policies. From Record of the Society of Actuaries Vol. 10, No. 4

Description: This general discussion looks at mortality experience with the advent of CSO tables, annuity premium tax, termination dividends, classes of agents included under Social Security, and conditions affecting companies entering the fields of disability income, accident, health, hospitalization and medical insurance.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: This 1977 panel discussion focused on effective product management of life insurance. Topics included: 1. Definition of effective product management 2. Internal organization required 3. Establishment of objectives for a product line 4. Coordination of company activities with respect to initial design 5. Monitoring

Description: Panelists at this session of the SOA 2003 Washington, DC Spring Meeting discuss how changes in interest rates affect the assets and liabilities of a life insurance company and what a company can do to prepare. This session examines historical trends in interest rates and how companies have reacted to both sudden and gradual changes.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: Living benefits (GLWBs) in fixed index annuity products are typically accounted for under SOP03-1 under current GAAP guidance. LDTI requires companies to classify these riders as Market Risk Benefit (MRB). This webcast focuses on challenges and considerations of the MRB implementation. Industry practices of the reserving approach will be shared during this webcast, as well as hedging and pricing implications.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: 1992 SOA Annual Meeting, Washington, D.C. This session discussion was about the performance measurement in a risk/return context, incentive compensation as a tool for achieving effective performance, and return attribution using liability-based performance indices.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.September 12The optional “boot camp” will provide an intense introduction to the basics of product taxation. The boot camp will include sessions focused on life insurance, annuities, and long-term care combination products. The basis of the boot camp will be the authoritative textbooks, “Life Insurance and Modified Endowments Under IRC Sections 7702 and 7702A” and the “Annuities Answer Book.” Book authors will conduct these optional programs. September 13–14The general sessions will feature product, tax, legal and compliance experts as well as Internal Revenue Service (IRS) representatives. Recent changes in the qualification requirements of insurance products and a host of product tax issues beyond Internal Revenue Code (IRC) section 7702 and 7702A will be emphasized.