Actuarial – Page 10

GENERALLY RECOGNIZED EXPENSE TABLE (GRET) 1998 – GENERALLY RECOGNIZED EXPENSE TABLE FOR 1998 ILLUSTRATIONS. SOCIETY OF ACTUARIES COMMITTEE ON LIFE INSURANCE RESEARCH. REPORT TO THE NAIC LIFE DISCLOSURE WORKING GROUP, Society of Actuaries – 8p 1996-2 Generally Recognized Expense Table 716 Adopted 695 2000-3 Society of Actuaries Committee on Life Insurance Research Report to the…

New Money / Portfolio Money Investment Generation Method We continue to put out these apples vs. oranges illustrations. We’re misleading our policyholders. We are providing the ammunition to make replacements of inforce policies with new coverage that is not in the policyowner’s best interest. — Walter Miller 1983 – SOA – Surplus Distribution and Allocation…

Range Approach 1988-2, NAIC Proceedings, 1988 0613 – ACLI – Statement on Behalf of the American Council of Life Insurance to the NAIC Market Conduct Surveillance (EX3) Task Force (Attachment 2) – 3p 1988 12 – SOA – Two Approaches to Life Insurance Cost Illustrations, Society of Actuaries – 4p 2017 10/15 or 19 -…

Modeling 1994 – SOA – Asset Modeling Concepts – Society of Actuaries – 38p Universal Life Modeling Example Funding Levels Universal life plans offer the policyholder great flexibility in their use of the plan — from a term plan to an investment vehicle. The funding level affects: 1. Universal life commissioners reserve valuation method reserves…

Historical Performance NAIC – IULISG – IUL Illustration Subgroup Some have suggested that historical experience should replace current scale as the basis for describing how the not guaranteed elements of the policy can operate. Substitution of historical performance for current scale would not solve many of the problems related to sales illustrations. Since it is…

Sensitivity Analysis Mr. Nepple said that in his opinion a sensitivity analysis added confusion, but he did not see that it was essential for consumers to understand standardized assumptions. Mr. Nepple asked the group to consider further the issue of a sensitivity analysis. 1994-4, NAIC Proceedings

Lapse-Supported Glenn Daily is particularly irate about what the industry calls “lapse supported pricing,” which is used in illustrations to show higher cash values in later years. Actuaries who use this technique know that only half the people who buy policies will still have them after seven years. After 20 years, only about 25 percent…

1960s – SOA – Society of Actuaries 1960 – SOA – Premiums and Dividends for Individual Ordinary Insurance, Society of Actuaries – 30p 1960 – SOA – The Life Insurance Company Income Tax Act of 1959, Society of Actuaries – 24p 1961 – SOA – Marketing Trends, Society of Actuaries – 10p A. What steps can life insurance…

Programming For descriptions of conventional life insurance programing, see Dan M. McGill, Life Insurance (Homewood, Ill.: Richard D. Irwin, Inc., 1959), pp. 649-60; and Robert l. Mehr and Robert W. Osler, Modern Life Insurance (3d ed.; New York: The Macmillan co., 1961 pp. 337-90. 1964 – AP – Dynamic Life Insurance Programing, by Joseph M. Belth, The Journal…

2010s – SOA – Society of Actuaries 2013 – SOA – A Qualitative History of Previous Challenging Environments for the Life Insurance Industry, By Evan Borisenko, Society of Actuaries – 4p 2013 – SOA – Life Insurance Regulatory Structures and Strategy: EU Compared with US – 92p 2014 – SOA – Modeling of Policyholder Behavior for Life…