Description: This paper demonstrates some of the basic principles and concepts inherent in the use of natural reserves to adjust earnings and to demonstrate differences in earning patterns obtained by several alternative approaches to a pure natural reserve adjustment of earnings.

Description: Section 818c of the Life Insurance Company Income Tax Act of 1959 provides, for companies holding other than net level premium reserves, a choice of two methods: exact revaluation or approximate revaluation to this basis. This paper discusses the impact of the choice on the level of a company's tax reserves. A discussion paper follows.

Description: The paper sets forth a procedure, based on actual experience, for determining extra life insurance reserves for term insurance conversion rights for annual statement purposes. Followed by several submitted discussion papers.