Description: Non-guaranteed elements are parameters of life insurance and annuity polices that are not fixed when the policy is issued but may be changed from time to time by the insurance company.

Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: Recently, joint teams of SOA and American Academy of Actuaries (AAA) volunteers have been busy on several such projects, including individual annuity mortality basic, individual annuity reserve, valuation basic table, preneed insurance, and more. This article provides a summary of their work.

Description: The September 2014 Issue of the Financial Reporting Section's newsletter, The Financial Reporter

Description: Update of principle-based reserves for life insurance

Description: Twelve companies field tested the proposed principle-based valuation manual for four different product lines: term life, universal life, whole life and deferred annuity. This report compares the reserves and C3 capital amounts under PBA versus current formulaic standard and discusses practical aspects in applying the proposed methodology.

Description: Results of a company practice survey is presented. Among the areas to be addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations, and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: Information regarding the Economic Scenario Generator to be used when calculating Principle-based reserves and implementing VM20.

Description: Mortality Credibility and its use within VM-20.

Description: A summary of regulatory developments related to principle-based reserving.