Description: Covers: 1. The current status of permissive legislation, monetary values, and new policies 2. Considerations in changing from CRVM to net level premium reserves 3. What are companies considering with regards to changes in cash value patterns 4. Consideration being given to changes in the mortality basis for substandard premiums as a result of recent experience and how is this affected by the adoption of the new CSO tables.

Description: Presented at September 1995 Valuation Actuary Symposium. This session is about life and annuity valuation issues, particularly Standard Nonforfeiture Law, XXX, the Annuity Valuation Task Force activities, and separate accounts.

Description: This is a discussion about the business effects of adoption of the 1958 CSO mortality table, possible reasons for the declining trend in individual life insurance sales, and effects of NY limitations on commissions and developments in agency earnings that could lead to modifications in the agency system.

Description: Compares Term VM-20 modeled reserves at low credibility factors.

Description: The Revenue Act of 1987 amended section 807d2B of the Internal Revenue Code. It established the interest rate used in the calculation of tax reserves to be the greater of the applicable federal interest rate or the prevailing maximum statutory valuation rate for the contract’s calendar year of issue. The amendment is effective for contracts issued in tax years beginning after December 31, 1987. This document shows all the applicable federal interest rates from 1998 - 2009.

Description: In-depth discussion about HIV and AIDS: [1] mortality-study results, [2] risk-classification challenges, including regulatory issues, [3] mortality-projection methods, [4] significant pricing and valuation – STAT and GAAP – information, and [5] overall industry implications. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.

Description: The New 2001 CSO: Implications for Universal Life Plans

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: A change in the way in which statutory life insurance and annuity reserves are determined in the United States is heading toward adoption. Currently, the Actuarial Opinion and Memorandum Regulation AOMR combines formulaic factor-based minimum reserves with reserve adequacy testing. The American Academy of Actuaries Academy is working with the National Association of Insurance Commissioners NAIC to finalize the basic framework of a principles-based reserve PBR methodology, based on a gross premium valuation, for life insurance products. The NAIC Life and Health Actuarial Task Force LHATF has also been considering Actuarial Guideline VACARVM that would introduce a PBR method for the valuation of variable annuity contracts.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.