Actuarial – Page 12

Retrospective Retrospective vs Prospective Mr. Carroll: Retrospective and prospective, if everything fits and works nicely, as Doug pointed out, it doesn’t matter. You get the same answer looking both ways. It only matters when things are out of sync and something has gone wrong or gone better than has been reflected. That’s how we come…

The Actuary – Illustrations 1988 The Actuary Illustrations a Call to Action Daphne Bartlett

Expense Allowance Elizabeth MacGowan – Trial – Walker v Life Insurance Company of the Southwest The Model Regulation specifies that the expense allowance shall be that for level premium, level death benefit endowment insurance at the maturity date. The rationale for choosing a “whole life” expense allowance of this sort was thought out carefully. It…

AAA – Journal of the American Academy of Actuaries actuary.org/content/publication-archives-academy-journal-1977-1987 Statement 1981-12 – Journal of the American Academy of Actuaries re: Manipulation, Dividends, Life Insurance Buyer’s Guide -12p To: NAIC Life Insurance (C3) Subcommittee From: American Academy of Actuaries Date : June 2, 1981 Background: This statement was presented at a meeting of the Task…

Valuation Actuary SOA – Committee on Life Insurance Company Valuation Principles – 1980s As Chris indicated earlier, pricing actuaries are in a unique position relative to valuation actuaries since valuation actuaries spend their time monitoring reality. Pricing actuaries, along with actuaries who work in the asset/liability modeling (ALM) area, can influence reality. Their actions are…

R-Ratio / R-Factor Conseco, Garn Lawsuit, R-Factor In essence, the model regulation <Universal Life Model Regulation> assumes that at issue, all universal life policies are permanent plans. The r-ratio is meant to measure the extent to which the policy is “on track” as a permanent plan. Statutory Valuation of Individual Life and Annuity Contracts |…

Benefits The main concern was that an unsophisticated buyer purchased a policy and did not know what the coverages, benefits and limitations were. 1988 0603 – Universal & Other New Plans (A) Task Force – NAIC – Attachment Two 1988-2, NAIC Proc. Nonforfeiture Premium Benefit Pattern – Examples Benefits – ACLI Benefits – Actuarial Benefits…

Supportable 1988 – SOA – Are Current Illustrations Supportable?, Society of Actuaries – 20p I endorse the idea of giving the Society of Actuaries more power to determine supportability. I think the general principles outlined by Harold Phillips (August 19, 1993) are very good in this regard. The percent of 80CSO cost index could be…

Actuarial Guideline 38 However, it was by no means apparent to many of us in the industry who would be most affected. In fact, when I learned of this movement in mid-summer, I called many of the larger writers of universal life products with secondary guarantees, and they told me that they had no knowledge…

Actuarial Principles The AAA <American Academy of Actuaries> group is looking at determining reserves based on actuarial principles, i.e. judgment. 2004-4, NAIC Proceedings