Modeling

  • 1994 – SOA – VASP – Asset Modeling Concepts, VASP983 – Society of Actuaries – 38p
  • 2014 – SOA – Modeling of Policyholder Behavior for Life Insurance and Annuity Products: A Survey and Literature Review, Society of Actuaries   —  [BonkNote] 
  • 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 — In particular the r factor is the ratio of the actual fund value to the guaranteed maturity fund.
    • Since r is capped at 100%, using a ratio based on the average fund for all policies may not produce the actual reserve.

1994 – SOA – Valuation Actuary Symposium – Session 8 – Life and Deferred Annuity Liability Models – Society of Actuaries – 32p