Description: This paper shows how net costs of virtually all life insurance contracts may be compared, using, for each contract, the ratio of two interest-adjusted cost indexes denoted as Interest Adjusted Cost indexes. The paper includes a discussion of how the relative cost of early termination of the contract may best be shown to the buyer. Followed by discussion papers submitted by various authors

Description: Suggestions have been made that life insurance cash values should depend on the prospective mortality, based on underwriting, of the insured evaluated at the time a cash value is applied for. This paper explores a simple model for determining cash values on such a basis and some practical problems associated with it.

Description: This section presents multiple book reviews and summaries of recent publications. Reviews: 'Social Security' by Myers, 'Report on Actuarial Principles and Practical Problems with Regard to Nonforfeiture Requirements' by Society of Actuaries, 'Mortality and Morbidity in the US' by Erhardt and Berlin, 'The Fifty-Second Annual Report of the Board of Actuaries of the Civil Service Retirement System' by US Government, 'Health Service Information in the US Today' by Murnaghan, 'Financial Problems Confront the Federal OASI and DI Trust Funds' by Staats, 'Public Employee Pension Funds' by Tilove, '1976 Annual Reports of the Board of Trustees of the Federal OASDI Trust Funds...' by US Congress, 'Report of the Consultant Panel on Social Security to the US Congressional Research Service' by US Government, 'Crime by Computer' by Parker, 'Reports of Consultants on Actuarial and Definitional Aspects of Social Security Disability Insurance' by US Government, 'Social Security: The Fraud in Your Future' by Shore, '1972 Lifetime Earnings by Age, Sex, Race and Education Level' by Social Security Administration. Digests also included.

Description: This paper provides a summary of the following special reports from the Transactions of Society of Actuaries 1974, Vol. 27: 1. REPORT OF THE HISTORIAN - 1974 and 1975. 2. REPORT ON ACTUARIAL PRINCIPLES AND PRACTICAL PROBLEMS WITH REGARD TO NONFORFEITURE REQUIREMENTS.

Description: This paper presents an in-depth analysis of life insurance protection which rises with increases in the consumer price index, with special attention to the nonforfeiture values. Two methods of calculating policy values are presented: change of state method and index accumulation method. Finally, there is some discussion of pricing and policy drafting.

Description: This discussion is about the new procedures that are being used or are contemplated in the preparation of new rate books and policy forms with reserves and cash values computed under the 1958 CSO Table.

Description: A. Discusssion of the practical considerations involved in deciding whether or not to adopt projected mortality rates in connection with individual annuities, settlement options, retirement income policies, and the various forms of group annuities. B. In view of increased administrative expenses, discussion of the arguments for and against imposing limitations on the granting of settlement options with respect to size of policy, including the practicality of providing for the expense of administering supplementary contracts other than through the use of conservative mortality and interest assumptions.

Description: The purposes of this note from the Transactions of Society of Actuaries 1963, Vol. 15, Pt. 1, No. 43 are to contrast the growth of the net level premium reserve and the growth of the cash value, in a policy paying the cash value if greater type of death benefit, and to suggest an unconventional surrender charge that will cause the net level premium reserve for such a policy to grow at an interest rate alone during the period when the death benefit is the cash value.

Description: This paper looks at the cost of nonforfeiture benefits at different levels of mortality. According to the assumptions in the paper, when expenses and dividends are considered, the costs of the extended insurance option are generally lower than those of the paid-up insurance option at the lower levels of substandard extra mortality. From Transactions of Society of Actuaries 1968, Vol. 20, Pt. 1, No. 58.

Description: Discussion about: A. New forms of policies and riders, and new options which have been introduced and their level of success, B. Changes in the use of: i Settlement options? ii Special conversion options? iii Automatic premium loans? C. Recent changes in settlement option bases D. The experience of smaller companies with respect to replacement problems, and compliancecwith state replacement regulations? Discussion about new forms of policies, changes in the use of settlement options and what other smaller companies are doing about replacement problems.