Description: This article discusses Internal Revue Code, ‘IRC,’ Sections 7702 and 7702A with respect to the implementation of the 2001 CSO Mortality Table, which must be used in the calculations for policies issued on or after January 1, 2006. “The insurance industry has requested guidance from the Treasury Department and the Internal Revenue Service on the proper application of the current computational rules to the 2001 CSO Mortality Table but, to date, such guidance has not been provided. Therefore, the Taxation Section established the 2001 CSO Maturity Age Task Force, the members of which authored this article, to propose methodologies that would be actuarially acceptable under Sections 7702 and 7702A of the Code for calculations under contracts that do not provide for actual maturity before age 100.” This article summarizes the task force recommendations.

Description: This article explores the complexities and potential problems with respect to tax reserves that could result from a retroactive application of a principle-based reserves PBR approach for life insurance reserves.

Description: This article is a general discussion about earnings rates and toll charges and how to compute them.

Description: This article is a general discussion about prior correction procedures for failed life insurance contracts and the new IRS procedure for remediation.

Description: Discusses the current controversy with the NAIC over Small Face Amount Policies, SFAPs.

Description: Discusses what it takes to adopt them and how the savings are realized.

Description: There are two key trends in the preneed and final expense insurance market, the first being small independently held preneed insurance companies presenting attractive acquisitional benefits and secondly, changing consumer attitudes may drive increased final expense activity in the future.

Description: A recap of the SOA Research Institute's participation in the Spring 2024 NAIC National Meeting.

Description: This article describes the availability of experience rating within COLI and BOLI programs and compares the effects of including or excluding this feature.

Description: As term carriers continue dealing with the implementation of PBR, the 2017 CSO mortality table, accelerated underwriting programs and predictive models, one wonders what the next significant challenge will be for the term market. The implications of these changes are yet to be seen fully, and monitoring of the results will be important in the years to come. ...