Words – Page 26 – [BonkNote]

Interest Rate Assumptions Grading Interest Rate Risk Low Interest Rate Environment New Money vs Portfolio Money Maybe he is not getting all the disclosure he needs, as far as the continuing benefit is concerned, when the interest rates change from that illustrated. The interest assumption is one that we really struggled with. — Gary P.…

Grading Where were the people that wanted to do that when we were going through the process. Folks, we’ve been talking about this for a year. We have taken input from anyone and everyone. If we had any sense that we could have had ten-year projections only, if we had any sense that we could…

Options Derivatives, Futures, Options, Swaps etc – Government Hearings Options – Investment Strategy Policyholder Options Premium Payment Options 2009 – AP – Implicit Options in Life Insurance, WP 33, by Nadine Gatzert, University of Gallen – 30p The common types of life insurance products discussed in the previous section are usually replete with implicit options.…

Valuation Liquidation Belth FRB Valuation Loans Standard Valuation Law Valuation Actuary Valuation Manual – NAIC Valuation and Non-forfeiture 1979 – SOA – Discussion of the Preliminary Report of the Committee on Valuation and Related Problems, Society of Actuaries – 44p 1987 – SOA – Valuation Actuary Handbook. Chapter I – Life Insurance Company Statutory Valuation – 34p…

Data Bank Concept of a Life Insurance Policy Data Bank A national data bank, organized and operated through the auspices of the NAIC, would serve as a depository for raw data on new as well as existing policies for cooperating insurers. It is anticipated that the national data bank would: The data bank would receive…

Off-Track / On-Track 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 | 5th Edition Claire, Lombardi…

Policy Maturity Isn’t it more realistic to assume a customer wants to know what the cost will be if he carries that policy out to maturity? (p13) — Senator Howard W. Cannon (D-NV), Chairman of the Committee 1979 0710 and 1017 – GOV (Senate) – FTC Study of Life Insurance Cost Disclosure, Howard Cannon (D-NV) …

GMF – Guaranteed Maturity Fund The guaranteed maturity fund at any duration is that amount which, together with future guaranteed maturity premiums, will mature the policy based on all policy guarantees at issue. NAIC – Universal Life Insurance Model Regulation (#585): – 22p Shane Chalke ULMR – Universal Life Insurance Model Regulation – MDL-585 –…

Underwriting 1952 – The Professional Concept of Life Underwriting, By Solomon S. Huebner – <WishList> -ia800205.us.archive.org/17/items/copyrightrenewals1923-1964/1980.txt 21May52, The American College 1959 – SOA – Discussion of Subjects of Special Interest: Underwriting, Society of Actuaries – 8p 2020 – SOA – Validating Algorithmic Underwriting Models – Expert Panel Report, Society of Actuaries – 13p 2021 – SOA -…

Premium Due Date …this was done because (1) the concept of a “premium due date” was thought to be inapposite to flexible premium policies. 1983-1, NAIC proceedings def. inapposite: out of place; inappropriate Legal Cases 2018, Elhouty v Lincoln Benefit, United States Court of Appeals, Ninth Circuit, Google Scholar 2010, Maloof v John Hancock, SUPREME…