Description: A review/highlights of the report on US population mortality improvements for the 4 years up to 2001

Description: The Mortality Studies Working Group MSWG of the Society of Actuaries was created to review the issue of the frequency of the standard ordinary individual life insurance mortality experience studies and the published reports of those studies. This report discusses these issues and makes recommendations.

Description: This article gives an overview of the first Applied Actuarial Research Conference AARC.

Description: This article discusses an update to a survey that focuses on how companies are trying to price for and understand the risks inherent in the products they sell.

Description: This article reviews the topics discussed at the December 2004 meeting of the Life and Health Actuarial task force. The covered topics include Actuarial Guideline 38 and Reserves for Variable Annuities C-3 Phase 2 reserves.

Description: This article discusses a recently completed RGA in-depth study that looked at assumptions and experience for lapses and mortality at the end of the level premium period for level term business.

Description: Whole life insurance nonforfeiture options may be actuarially equivalent at the time premium payments end. When the entire remaining lifetime of the policy is fully considered; however, significant differences emerge in expenses between paying the cash surrender value, converting to reduced paid-up, or converting to extended term insurance. This article explores how a company might manage its existing nonforfeiture options and consider what to continue to offer after a product refiling with that entire lifetime in mind.

Description: The Universal Life Work Group ULWG of the American Academy of Actuaries’ AAA Life Valuation Subcommittee was formed in July 2004. Its charge is to develop a new “principle-based” approach definition follows for statutory reserves and capital requirements for life products with certain types of benefits and guarantees, where the value of the contract obligations vary significantly due to such things as future interest rates or equity returns.

Description: A follow-up to the article “Comfort Food for an Actuary: Cognitive Testing in Underwriting the Elderly,” published in the May 2006 edition of Product Matters! This article presents the updated results, based upon three more years of data, of the Delayed Word Recall DWR Test mortality study. mortality study.

Description: The National Center For Health Statistics recently came out with preliminary 2006 U.S. population mortality statistics—showing lower mortality and a record life expectancy!