Description: This paper defines health expectancy as that part of life expectancy where the person is expected to be healthy. It also breaks down the remainder of life expectancy into two unhealthy categories, one where assisted living will be necessary, and one where a skilled nursing facility will be necessary. These expectations are calculated for many combinations of age, other demographic characteristics, and current health issues.

Description: With so many different models and ways of building them, the task of organizing our thinking about models can seem overwhelming. The paper proposes a framework of four categories of models and seven attributes. By comparing each model category across these attributes, it provides insight into practical questions like, "are some modeling approaches inherently better than others?" and "how should the level and type of model risk management effort depend on model category?"

Description: This is the abstract for the paper, The Cost and Benefits of Treating Type 2 Diabetes Mellitus as a Chronic Condition by Robert D. Lieberthal.

Description: In any model, assumptions are necessary to generate output. Typically, the model is run with varying assumptions to determine how sensitive the output is to the input. But what if the philosophy of generating assumptions is flawed?

Description: Asia is experiencing changing demographic, social, and cultural tides which threaten to submerge existing retirement-pension systems.

Description: The article illustrates a method to price a term life policy to properly reflect the post conversion experience. The article also suggested a reserving method.

Description: This is a chart on missed assumptions impact on Long Term Care Insurance ROE from an article in The Actuary Magazine entitled Long-Term Care is Poised for Growth.

Description: Read the December 2016 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Chairperson's Corner is the introduction to the JRMS newletter.