Description: The purpose of the article is to discuss the benefits of small policy purchases by seniors, describe the market and distribution for these small face amounts of life insurance, and demonstrate the dimensions of the market.

Description: This is an article on avian flu and reinsurance as it relates to smaller insurance companies.

Description: This article discusses the importance, measurement and improvement of product development efficiency.

Description: This article warns product actuaries about arbitrage schemes using charities that might adversely affect mortality experience.

Description: New chairperson’s column discussing his goals for the Product Development Section.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: To most observers, the value of a life insurance contract is the cash surrender value. However, when it comes to life insurance and the Internal Revenue Code, things are seldom as simple as they appear on the surface.

Description: Insurance companies will be required to file the Internal Revenue Service IRS Schedule M-3 for tax years ending on or after Dec. 31, 2006. Schedule M-3 was designed by the IRS as a replacement for the Schedule M-1, which is used to reconcile a corporation's financial accounting income or loss with its taxable income or loss.

Description: This article discusses a new procedure for correcting inadvertent failures to satisfy the diversification requirements applicable to variable annuity and life insurance contracts under section 817h of the Internal Revenue Code.