Description: Reviews basic desirable features in an economic scenario generator. Discusses basics of model structure and validation process

Description: The investment risk generated by a stochastic interest rate is recognized as often the greatest risk associated with a whole life or retirement policy. Recent research has investigated the mathematics of this risk when the interest rate follows a stochastic process and the time to death is considered to be random. In this paper we focus on the use of the zero coupon bond as an investment instrument to fund a whole life policy. It is unlikely that a company will entirely fund a particular single policy with a zero coupon bond.

Description: This session discussion is about tools, techniques, and methods used by the health valuation actuary HVA in dealing with business projections, cash-flow analysis, valuation on nonguaranteed premium business, target surplus analysis, reinsurance and claim reserves. From Record of Society of Actuaries Vol. 18, No. 1A.

Description: Discussion of the movement toward principle-based reserves for LTC insurance.

Description: Social Security provides financial protection by annuitizing retirement. This is not enough for many. My idea creates an additional annuity via Social Security.