Description: discussion of arbitrage possibilities cause by inconsistent mortality pricing assumptions in annuity products vis. a vis. life insurance products

Description: In an effort to build a bridge between epidemiological and actuarial modeling, this paper analyzes possible financial arrangements made against expenses resulted from medical treatments given to insured patients. Based on classical compartment models, the first part of this paper designs insurance policies for susceptible participants facing the risk of infection and formulates the financial obligations of both parties using actuarial methodology. For practical purposes, the second part employs a variety of numerical methods for calculating premiums and reserves. The last part illustrates the methods by designing insurance products for the Great Plague in Eyam and the SARS Epidemic in Hong Kong.

Description: This is an excel spreadsheet with some data pertaining to an article of the same name from the Product Development News

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: Mortality Table Slope and Future Improvements

Description: In physics and engineering education, Fermi problems require solutions based on good approximate calculations with little or no actual data, involving making justified guesses and deducing bounds without using sophisticated tools. The idea of Fermi problems are of particular relevance to today's actuaries, as pricing, reserving, and financial reporting involve more and more complex stochastic components. The paper discusses some approximate solutions developed in academia in the spirit of Fermi problems.

Description: This article contains a summary of some of the presentations given at the May 2013 SOA Life & Annuity Symposium. This article does not cover all sessions that are related to product development, but shares observations that have been made by various members of the SOA Product Development Section Council.

Description: Identifies current trends and considerations when setting the mortality improvement assumption for individual life insurance in the US.

Description: Discussion of the relationship of IRR to ROI on a Level Term Life insurance policy

Description: Article analyzes the value of a discounted accelerated benefit provision and suggests that it might be more generous than expected.