Description: This discussion seeks to determine if: 1. Is there justification for paying higher rates of commissions to experienced agents? 2. Is grading of commission rates by size of policy appropriate for Ordinary insurance? 3. In what ways have normal commission scales been modified in connection with the sale of permanent insurance on the minimum deposit plan? 4. What practical methods are available to maintain consistency between the levels of commission payments for pension plans funded by means of individual policies and group annuities?

Description: Addresses U.K. actuarial discussion regarding “maturity guarantees”, i.e., the reserves necessary to support promises contained in investment-linked contracts.

Description: This report presents a new set of select and ultimate expected individual life insurance lapse tables, based on inter-company experience of standard ordinary business between 1971-1972 policy anniversaries. Discussion includes overview of how the data was collected and how the tables were constructed and how they should be applied in practice.

Description: This paper sets forth a method of estimating the present value of the cost of future nonvested commissions. It also provides a method of producing an agents' survival table. Followed by several discussion papers submitted