Description: This paper reviews the unitary and term methods for apportioning net premiums over the life of nonlevel-premium policies and recommends a new method, the unified method, as a method conforming more to the principles of the Standard Valuation Law and accepted actuarial principles. A discussion of the paper follows. From Transactions of Society of Actuaries 1990, Vol. 42.

Description: This discussion covered: 1. The extent to which companies' net earned interest rates have risen above their low points from that of several years ago and 2. The NAICs' new method of dividing amortizable bonds into two classes in the valuation of securities