Description: Revenue Procedure 2001-42 Rev. Proc. 2001-42, established a permanent avenue for companies to correct inadvertent modified endowment contracts, or MECs. This article discusses this new Procedure.

Description: A commentary on whether or not the Illustrations Regulation has been successful.

Description: Discussion of recent Society of Actuaries sponsored research.

Description: Discusses Phase 1 survey results from the SOA/RGA post-level term research project.

Description: This article discusses the results of the elections for the SOA Product Development Section Council and introduces the individuals that will be new members of the council for 2014.

Description: Describes the results of the 2015 Product Development section council election as well as providing background on the new committee members.

Description: This article provides actuaries with general information about the Oregon Death with Dignity Act and experience for pricing of life and other insurance products.

Description: The purpose of this article is to discuss potential issues and considerations that may be encountered with the implementation of VM 20. Crucial considerations include the modeling software used, validation effort, assumptions used, complexity of the process, documentation, and run time. A key takeaway is that an integrated modeling platform with solid automation and asset-liability capabilities is imperative for addressing the issues and considerations encountered.

Description: Summary of 2017 Milliman broad- based survey on term life insurance, providing benchmarking for carriers active in the term life market.

Description: This article is historical in nature and explores the impacts of traditional life insurance products offering cash surrender values. This article intended to show that by offering cash surrender value, insurance companies became less exposed to the risk of mis-estimated lapse assumptions. This article presents an illustrative case study to highlight this dynamic. This article also explores the issues with traditional life insurance products that arose in the 1970s and 1980 and led to the introduction of Universal Life in the U.S.