Description: Non-guaranteed elements are parameters of life insurance and annuity polices that are not fixed when the policy is issued but may be changed from time to time by the insurance company. They emerged in the United States and other countries as features of Universal Life and similar products designed to make insurance more competitive in an environment where fully guaranteed products did not have sufficient flexibility to respond to rapidly changing conditions. This overview covers professional guidance, regulations and practical issues with reviewing and revising non-guaranteed parameters.

Description: This report was prepared to provide an overview of Registered Index-Linked Annuities for use in the educational curriculum of the Society of Actuaries. It presents general principles and highlights major differences from other types of deferred annuities offered by life insurance companies in the United States.

Description: This report summarizes the results of a 2022 survey examining mortality improvement practices of life and annuity companies in the U.S. and Canada.

Description: Non-guaranteed elements are parameters of life insurance and annuity polices that are not fixed when the policy is issued but may be changed from time to time by the insurance company.