Description: This article summarizes the SOA 1995-2000 Mortality Study.

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: February 2011 issue of the Product Development Section newsletter, Product Matters!

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

Description: The author discusses an interpretation of the surrender charge limitations specified in New York’s Regulation 77 which increases the maximum allowable surrender charges for renewal years. This interpretation was presented to and accepted by the New York State Insurance Department.

Description: The chairperson reviewed the accomplishments from the prior year and provided a preview of upcoming events.

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.