Description: This report presents the results of a survey of the actions companies took on their term products in response to the introduction of the NAIC Valuation of Life Insurance Policies Model Regulation, ‘Regulation XXX,’ and Actuarial Standard of Practice No. 40. The survey also explores the development of companies' X factors, the associated annual X factor certification process and how Regulation XXX impacts the companies' level term pricing. The survey was conducted by the Regulation XXX Survey Subcommittee of the Society of Actuaries Life Insurance Mortality and Underwriting Survey Committee. Common survey responses to Regulation XXX included consideration of reinsurance, changes in product design, the most common changes reported being the length of the guarantee period and the level of the gross premiums, and changing rates on existing products.

Description: This report, by the Committee on Nonforfeiture and Valuation Mortality Problems, resulted from a request by the NAIC to develop non sex distinct mortality rates in light of a recent court decision prohibiting sex distinct mortality in determining benefits derived from defined contribution pension plans. Also included is the ‘February 7, 1984, Report of the Society of Actuaries Committee on Nonforfeiture and Valuation Mortality Problems - Individual Life Insurance and Annuities Blended Selection Factors for Blended 1980 CSO Tables,’ which describes the subsequent determination of select factors, and discussion of two letters the Committee received. From the 1985 Transactions Vol. 37.

Description: 1962 SOA Regional Meeting, Jacksonville. This is a discussion about the various impacts on group life insurance of the new Commissioners 1960 Standard Group Mortality Table. From Transactions of Society of Actuaries 1962, Vol. 14 Pt. 2.

Description: This Report presents the results of a three-year study on Demutualization by a Task Force of the Society of Actuaries. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: This actuarial note is in the nature of an addendum to the paper describing the development of the Commissioners 1960 Standard Group Mortality Table and the 1961 Standard Group Life Insurance Premium Rates based thereon 'TSA, XIII, 586'. A comparison of Canadian to US mortality is made, with this data being used to develop minimum term premiums for Canada.

Description: Task Force report on life insurance company sales illustration practices from the perspective of the consumer. The study analyzes how well current illustration practices serve their primary functions of: 1. showing the consumer their policy values and premium payments over time, and 2. projecting best estimates of future performance and providing cost and performance comparisons with other policies.

Description: This section presents and summarizes major insurance-related legal cases of 1957, including a case regarding interpretation of the Soldiers' and Sailors' Civil Relief Act of 1940 with amendments, FIT deduction of group disability benefits, FTC jurisdiction over advertising, group life employee ineligibility and incontestable clause, date of reinstatement, and claims issues.

Description: These are legal notes concerning policy owner federal income tax, taxation to an agent for expenses for sales convention travel, claims contest on a policy with false statements on the application, timing on surrender of a life insurance policy immediately before death, permitted investment by a life insurance company in a property/casualty company, extraterritorial issues pertaining to regulation of group life insurance, and tax deduction for reserves on pension contracts covering its own employees.

Description: This paper discusses the determination of term insurance reserves in the United States for individual life insurance policies. A valuation method that appears to produce better results than the net level premium reserve or the CRVM is the changing premium valuation method CPVM. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper describes methods adapted to the computer for calculating premiums and nonforfeiture values separately for each policy at its original issue and for as many changes in the policy as may be made later. It also discusses current insurance law, underwriting, substandard issues, dividends and sales illustrations. From Transactions of Society of Actuaries 1976, Vol. 28.