• One of our problems is that we're not even sure, as a profession, what we mean by equity between persisting and terminating policyholders.
  • The Society has set up a task force, chaired by Donna Claire, to investigate this issue.
• The Unruh Committee, I believe, in the 1970s came up with a definition of equity for nonforfeiture, that the terminating policyholder should not leave the persisting policyholders in a worse position.
  • Even that definition of equity perhaps is not necessarily the final word. 

--  Douglas C. Doll

1995 - SOA - Practical Illustrations and Nonforfeiture Values, Society of Actuaries - 14p