Description: Reworking The ABC’s of XYZ by Tom Kalmbach from Small Talk Newsletter, November 2002, Issue No. 19.

Description: Over the past few years, the Internal Revenue Service has issued two private letter rulings waiving the failure of certain fixed-premium universal life insurance FPUL contracts to satisfy the guideline premium test GPT under section 7702 of the Internal Revenue Code [see PLR 200328027 Apr. 10, 2003 and PLR 200230037 Apr. 30, 2002].

Description: Report summarizing the results of the 2015 PBITT UL with Secondary Guarantees Survey.

Description: Discussion of the new- 2003- regulations in China pertaining to nonguaranteed life products.

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: 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 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: Summary of annual Milliman UL/IUL Issues Report, covering issues and challenges of these products.

Description: An introduction to ultimate life insurance, a product intended to be flexible enough to meet consumers' needs over their lifetimes. The paper gives some illustrations and discusses the Ultimate Life Financial Risk Analysis computer program.

Description: In this article, the authors take an exploration of the pertinent life insurance and political history along with a review of certain aspects of federal income tax policy.