Description: Review the exam file for the Fall 2024 Quantitative Finance and Investment Portfolio Management (QFIPM) Exam.

Description: Review the submission for the Lumarian Consulting Group team (from University of New South Wales, Australia) for the 2024 SOA Research Institute Student Research Case Study Challenge, which provides an opportunity for teams of students to apply their actuarial skills on a real-world problem in a business setting.

Description: Review the submission for the Luminous Lake Lifeguards team (from University of New South Wales, Australia) for the 2024 SOA Research Institute Student Research Case Study Challenge, which provides an opportunity for teams of students to apply their actuarial skills on a real-world problem in a business setting.

Description: Review the submission for the Mew Consulting team (from ­­­­­­­­­­­­­­­­Salisbury University, U.S.) for the 2024 SOA Research Institute Student Research Case Study Challenge, which provides an opportunity for teams of students to apply their actuarial skills on a real-world problem in a business setting.

Description: View the submission for the Apex Consultants team (from University of New South Wales, Australia) for the 2024 SOA Research Institute Student Research Case Study Challenge, which provides an opportunity for teams of students to apply their actuarial skills on a real-world problem in a business setting.

Description: Review the ALTAM Sample Questions Spring 2024

Description: This document contains the key for the SuperLife Inforce Dataset, which is part of the 2024 Student Research Case Study Challenge. Learn more about the various fields available in the case study dataset.

Description: View the overview and description of the case study for the 2024 Student Research Case Study challenge.

Description: View the ALTAM Sample Questions

Description: View ITAM Exam - Spring 2020

Description: This report presents the results of the most recent study of individual life insurance lapse experience in the United States conducted jointly by LIMRA International and the Society of Actuaries (SOA).

Description: This paper presents a deeper understanding of the adequacy of the current regulatory requirements of continuing care retirement communities.

Description: View the Fall 2017 ILA LFVU Exam Solutions.

Description: In this article, the authors take an exploration of the pertinent life insurance and political history along with a review of certain aspects of federal income tax policy.

Description: Read the February 2018 issue of Taxing Times published by the The Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: View the Fall 2017 ILALFVU AM Exam.

Description: View the Fall 2017 ILALFVU PM Exam.

Description: View the Fall 2017 ILALFVC PM Exam.

Description: Review the spring 2017 exam MLC.

Description: Report on survey designed to get feedback on underwriting guidelines, requirements, assumptions and practices used in assessment of older age applicants.

Description: We look in this article at the challenges which life insurance companies operating in a low interest environment have to face.

Description: March 2017 issue of Reinsurance News

Description: This report contains a set of basic mortality tables for Preneed business.

Description: Download the spring 2014 Exam MLC Models for Life Contingencies sample questions and solutions.

Description: View the spring 2014 Exam MLC sample questions.

Description: This appendix II Report on the Life and Annuity Living Benefits Survey provides supplemental information for the Report on Life and Annuity Living Benefit Riders: Considerations for Insurers and Resinsurers. Appendix A gives a list of 34 participants and Appendix B provides a glossary of terms used in the report. The report utilizes a literature review, company survey, company interviews and/or other methods to catalog a listing of common living benefit riders. It was sponsored by the Product Development and Reinsurance Sections along with the Committee on Life Insurance Research.

Description: This is the tenth experience study conducted by the SOA’s Committee on Life Insurance Company Expenses on inter-company expenses. Contributions of individual life and annuity expense data were received from 13 US life insurance companies.

Description: The Committee on Life Insurance Company Expenses is currently seeking life insurance company data submissions to the 2012 Individual Life and Annuity Expense Study.

Description: The spring 2013 exam MLC sample questions.

Description: This is a research report that highlights the characteristics of combination plans that serve to reduce the risks to insurers issuing life or annuity products linked to long-term care insurance. Observations are provided to assist in the understanding of the factors that explain the profit change sensitivity results and the natural hedging against major risks that inherently is present within the linked products.

Description: Samples questions for exam MLC.

Description: Sample questions from the 2005 Exam M (Actuarial Models)

Description: The Exam MLC (Actuarial Models - Life Contingencies Segment) sample questions/exam for the Spring 2008 session.

Description: The Society of Actuaries’ Committee on Life Insurance Company Expenses CLICE) has developed and conducted inter-company expense experience studies annually since 2001. This report documents the results of the Committee’s fourth expense study – the 2004 SOA Individual Life and Annuity Expense Study.

Description: This is the summary report of the 2002 individual life and annuity expense study.

Description: Summary report for the eighth expense study conducted by the Society of Actuaries' Committee on Life Insurance Company Expenses [CLICE]. Contributions of individual life and annuity expense data were received from 23 U.S. life insurance companies.

Description: The questions in this study note for Society of Actuaries Exam MLC Models for Life Contingencies were previously presented in study note MLC-09-08. The questions in this study note have been edited for use under the 2012 learning objectives. Some questions were not applicable to the 2012 learning objectives and these questions were removed. Some of the questions in this study note are taken from past SOA examinations.

Description: This is the sixth experience study conducted by the SOA’s Committee on Life Insurance Company Expenses on inter-company expenses. Contributions of individual life and annuity expense data were received from 27 US life insurance companies.

Description: This article provides encourages participation in and provides instructions for participation in the 2010 CLICE study. The objective of the 2010 study is to provide useful unit expense benchmark information to actuaries and their managements from which to assess their own unit expense performance, while expanding the level of contributions. In addition, CLICE expects the results to be useful in enhancing the generation of the Generally Recognized Expense Table GRET in the U.S. used by some companies to demonstrate compliance with the NAIC model sales illustration regulation.

Description: This report presents the results of the most recent study of individual life insurance lapse experience in the United States. Lapse includes termination for nonpayment of premium, insufficient cash value or full surrender of a policy, transfer to reduced paid-up or extended term status, and in most cases, terminations for unknown reason.

Description: Experience-study instructions to contributors. Looks to develop inter-company information about expenses for many types of individual [not group] life and annuity products.

Description: This intercompany study examines expenses by type of expense, distribution channel, and type of policy.

Description: Instructions for completing the workbook for the 2009 Individual Life and Annuity Expense Study.

Description: September 2008 issue of the Financial Reporting Section newsletter

Description: Just about everything that took place on the international front this quarter was influenced to some degree by the subprime crisis. Article discusses April - June developments in the creation of fair value accounting regulations, which progresses in spite of concerns that using a fair value accounting basis for financial instruments lacking a deep trading market makes does not make sense.

Description: This document is a list of acronyms used by the SOA.

Description: June 2008 issue of the Smaller Insurance Company Newsletter (Small Talk)

Description: This article addresses the 2001 CSO Mortality Table and the implications for preneed insurance, for which the table has been deemed inadequate. The article explores interim measures such as additional reserves, treatment as substandard, and tax implications. There is also discussion of a model NAIC regulation which would mandate the use of 1980 CSO mortality for preneed as well as efforts to eventually establish a new preneed mortality table for valuation and nonforfeiture purposes.

Description: An Excel spreadsheet to aid the reader in interpreting the information contained in the report, which provides exposure information by lapse factor and data cell. Please see the SOA website experience studies for the full report.

Description: An Excel spreadsheet to aid the reader in interpreting the information contained in the report, which provides exposure information by lapse factor and data cell. Please see the SOA website experience studies for the full report.

Description: Summary report of the 2005 Individual Life and Annuity Expense Study. Document contains a description of data used in the study, description of unit cost formulas, list of companies contributing to the study, tables and graphs, etc.

Description: Summary report of the 2005 Individual Life and Annuity Expense Study. Document contains a description of data used in the study, description of unit cost formulas, list of companies contributing to the study, tables and graphs, etc.

Description: This report presents the results of a survey conducted by the Older Age Underwriting Practices Survey Subcommittee. The purpose of this survey was to elicit feedback regarding underwriting guidelines, requirements and practices utilized in the assessment of older age applicants.

Description: Full version of Small Talk Newsletter, June 2007, Issue No. 28.

Description: Outlines the minimum amount of data required to participate in the 2005-2007 life claims study

Description: This is the accompanying spreadsheet for the 2001-02 U.S. Individual Life Persistency Update report. Please see the SOA website experience studies for the full report.

Description: This report examines lapse experience on individual life products for a variety of policy and product factors. The study can be used for industry benchmarking, as well as for background information for the product development and planning process. The data contained in this report can help companies identify factors that impact individual life insurance persistency.

Description: This is a request for data for the 2005 intercompany expense study.

Description: This session at the 2004 Valuation Actuary Symposium offers a basic understanding of how to calculate statutory reserves, GAAP reserves, and deferred acquisition cost for a universal life product.

Description: This report documents the results of the Committee on Life Insurance Company Expenses' fourth annual expense study – the 2004 SOA Individual Life and Annuity Expense Study. A Per Policy Index for first year expenses and a Per Policy Inforce Index for operating expenses is developed as a high level basis of comparison.

Description: 2001 individual life and annuity expense study summary report updated 10-01-03.

Description: This session from the 2003 SOA Orlando Meeting discusses the new risk-based capital RBC requirements for variable annuities with guranteed benefits such as guaranteed minimum death benefits - GMDBs and guaranteed minimum income benefits - GMIBs. From the Society of Actuaries Record, Volume 29, No. 3.

Description: The full version of The Financial Reporter, Issue No. 54, September 2003.

Description: The panelists at this session of the SOA 2003 Washington, DC Spring Meeting discuss recent GAAP activities including new Standards of Practice for new nontraditional products and internal replacements. Developments at the FASB and SEC are also discussed.

Description: Discussion of LTC insurance product developments being spurred by recent demographic and regulatory trends, especially combination products such as LTC benefits with disability income, annuities, and life insurance. Several viable product styles are considered, along with the pros and cons of each.

Description: Full version of Reinsurance Section News, September 2001, Issue No. 49.

Description: The stated purpose of this article is to give several specific examples of financial reinsurance transactions and to give some ideas on how a representative of a ceding company or a professional reinsurer could make contact with others in various venues to get in the mainstream of financial reinsurance activities.

Description: Panelists at this session of the SOA 2001 Toronto Spring Meeting give an overview of the new methodology to compute the C-3 component of statutory risk-based capital and quantification of the impact of the change in methodology. Issues from a regulatory perspective and from a company perspective are discussed.

Description: From a session at the annual meeting of the Society of Actuaries held in Chicago, Illinois, October 15-18, 2000 Discussion of purposes and approaches for creating interest-rate scenarios.

Description: 1999 SOA Annual Meeting, San Francisco. Presenters, each offering a different perspective, discuss a case study involving a successful bancassurance program focusing on: 1. Targeted customer segments. 2. Insurance products involved. 3. Distribution channels utilized. 4. Selling/underwriting/issue processes. 5. Refinements to the initial offering. 6. Key success factors. 7. Sales results.

Description: 1999 SOA Regional Meeting, Atlanta. In this session on next-generation UL, the panelists explored 1999 product development issues relating to the general account/non-equity-indexed universal life product.

Description: Panelists, which include the chief counsel of the Office of the Comptroller of Currency [OCC], discuss the regulatory issues and market opportunities relating to insurance companies as providers and banks as the vendors of insurance products. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: This 1997 Valuation Actuary Symposium, Session 15 focuses on life modeling.

Description: This paper consists of two parts. The first concerns the financing of public systems, the second is a challenging introduction to variances encountered in life insurance and life annuity theory. The first part emerges from work by some actuarial students and faculty at the University of Michigan during the past five years. The second part was stimulated by some developments in the preparation of the second edition of Actuarial Mathematics.

Description: Presented at May 1996 Spring Meeting. Discusses product design and pricing, market penetration, hedging and other investment strategies, and valuation issues.

Description: This session from the 1995 SOA Boston Meeting covers an update on the current status of the proposed new standard non-forfeiture law for life insurance. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: This session from the 1995 SOA Boston Meeting examines the background and reasons leading to recent Canadian and U.S. insurance company failures, covering the roles of management, actuaries, rating agencies, and regulators. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: This session from the 1995 SOA Boston Meeting describes the expansion and consolidation of the U.S., Canadian and Mexican life insurance industries and the discusses the top players in the insurance industry in the world and their market share. From the Record of the Society of Actuaries, Vol. 21, No. 4b.

Description: The purpose of this report is to develop information that may be useful to the Pennsylvania legislature in its efforts to regulate the funding of pre-need contracts. What we have done is to develop a theoretical basis for regulation and then to suggest some practical approaches to initial implementation.

Description: 1994 SOA Spring Meeting, San Francisco. The panel discussed current issues in participating, UL, and non-guaranteed element products. Topics of discussion included product design, regulatory issues, implementation, pricing issues, and compensation.

Description: 1994 SOA Meeting, San Francisco. This session discussed variable annuities and how direct companies use reinsurance to mitigate death and investment risk. Variable annuities and the enhanced death benefit were addressed from the direct and reinsurance sides.

Description: 1994 SOA Spring Meeting, San Francisco. In this interactive presentation, the panel fielded investment questions from the audience. Prepared and audience questions included: 1. What is the FLUX measure? What's it supposed to do for regulators and insurance companies? 2. What sort of things really went on that caused the difficulties at Executive Life, First Capital, and Mutual Benefit? 3. What are some examples of hedges that you would recommend for a $100 million SPDA portfolio to try and combat the effects of rising interest rates? 4. Given the changes that experienced in interest rates, what's that been doing to the durations of typical interest-sensitive liabilities? 5. What do you do to hedge with derivatives or whatever if interest rates are going down? 6. What level of asset-liability matching do companies usually target? How do regulators view this?

Description: 1994 SOA Spring Meeting, Orlando. This session is about experiences, benefits, problems, and pitfalls associated with advances in technology.

Description: This session from the 1993 Valuation Actuary Symposium looks at an overview of developments in 1993 including a regulator's viewpoint of various valuation actuary issues, an update on the valuation actuary and health insurance, current developments in reinsurance that should be considered in the valuation process and a sample actuarial opinion and memorandum.

Description: 1993 SOA Meeting, Quebec. This session was about the impact of low interest rates. In 1993 the Moody's Aaa Corporate yields were near 8%. Topics included: 1. The effect by product line on different kinds of business. 2. The effect on merger and acquisition activity. 3. The interaction with tax 4. The interaction with regulatory changes.

Description: Examination of the distribution of insurance products by and through financial institutions, products, distribution options, etc. The marketing opportunity was addressed from several viewpoints - insurance company, marketing organization and financial institution.

Description: This paper discusses interest rate generators which vary by intended purpose. The primary focus is on fairly elementary generators for studying C-3 risk, with major emphasis on parametric, mean reversionary generators.

Description: This paper reviews Redington's theory of immunization and sketches how it may be extended to the general case of stochastic flows by means of modern option-pricing theory. From the Actuarial Research Clearing House 1992 Vol. 1 .

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. Recognizing that over the past few years, pricing actuaries have increasingly adopted marginal expense assumptions in pricing, the panelists discuss strategy and pricing considerations, including marginal strategies, fixed versus variable costs, and treatment of corporate overhead. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss the financial management of insurance company liabilities, including the criteria for identifying significant product portfolios, lessons learned from historical results, and the challenges facing the financial managers in the future. They discuss the state of management information for appropriate product or market segments and how to improve it, and action plans for financial managers to improve financial results. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: Provides a how-to session on modeling assets and liabilities in the Valuation Actuary's work to comply with the Standard Valuation Law. Comparisons of the methods discussed are occasionally made with the requirements of New York Regulation 126. Session 12 of the 1991 Valuation Actuary Symposium.

Description: The excess spread approach introduced in this paper addresses the true economic profitability of investment oriented products by looking at the spread between the earnings rate on the assets and the rate required to be earned on the assets to satisfy the liabilities. For many products, an important part of the liability cost is the value of interest rate options embedded in the policies. The excess spread approach incorporates an option-pricing technique that is sufficiently flexible to handle different interest rate environments.

Description: This session at the SOA 1990 Annual Meeting is about techniques, methods, and assumptions for projecting cash flows for reserve analysis with emphasis on year-end reporting and communicating results. New York Regulation 126, proposed changes to the Standard Valuation Law, and actuarial standards of practice are discussed.

Description: This session at the SOA 1990 San Francisco Regional Meeting is about annuity product development and includes an overview of variable annuity products, fixed product designs, and marketing and distribution issues.

Description: This session at the SOA 1990 San Francisco Spring Meeting covers individual life products including the state of the market, sales results, new ideas and regulatory developments.

Description: This session at the SOA 1990 San Francisco Spring Meeting focuses on the relationship between the pricing actuary and the valuation actuary from the standpoint of each.

Description: This session at the SOA 1990 Hartford Spring Meeting is about cash flow testing as it relates to taxes including the regulatory background, current practices, and the effect of using tax versus statutory values in cash flow testing.

Description: This session discussion is about the long-term care and living benefit riders, early sales results, benefit structure, development of claim costs and regulatory and tax considerations. From Record of the Society of Actuaries Vol. 15, No. 3A.

Description: This paper illustrates a procedure for analyzing the sources of profit under FAS 97 and suggests an analytical procedure for reflecting actual experience and revised future assumptions in the recalculation of the estimated gross profit defined by FAS 97.

Description: This session discussion is about SPWL: Is a modified endowment product salable, 7 pay: What sales applications are working best and pricing and administrative compliance issues. From Record of the Society of Actuaries Vol. 15, No. 2A.

Description: This session discussion is about coping with cash-flow testing in a small company. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This session discussion is about the trends in a life insurance products in the 1980s have included graded premium whole life, universal life, excess interest whole life, variable life and single premium whole life. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This session discussion is about methods for determining and adjusting contingency surplus. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: Discusses securitizing policyholder loans [PHLs], including the history, purpose, and benefits of such transactions. Then, using the example of Prudential's large $619 million PHL securitization, panelists discuss it from perspectives of the seller [Pru], actuarial cash flows of the PHLs being securitized, the securities issuer, and the marketing of the securities. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.

Description: Panelists – including a New York state insurance regulator, an insurance-company qualified actuary, and a consulting actuary – discuss initial results from the NY filings for 1986 and 1987, the challenges complying with Reg 126, and what companies have learned so far from it. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.

Description: Discusses the emerging proposals for revision of the NAIC Model UL Regulation to address valuation, non-forfeiture, and disclosure concerns. Also discusses product implementation and the current status of state requirements. From the 1988 Record of Society of Actuaries, Vol. 14, No. 3.

Description: Discusses markets, how they were affected over the years by changes in tax laws, plans of insurance, pre- and post-sale illustrations, underwriting, field compensation, and administration. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: Discusses the ways in which insurers can position themselves in today's annuity marketplace, the market-value-adjusted fixed annuity, and marketing of annuity products through the stock-brokerage channel. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: Discusses: [1] the term-insurance marketplace and the reinsurance thereon, both past and present, [2] the changing reinsurer-client relationship, [3] the evolving reinsurance and direct marketplaces, and [4] the interrelationships between those two marketplaces. Significant discussion about AIDS risks in Q&A. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: Panelists, along with significant audience participation, discuss the proposed changes in tax law for life insurance [which became Section 7702A], company reactions [especially regarding in-force-dividend policy] to the dropping new-money yield rates available, the nascent long-term-care-insurance [LTCI] and accelerated death benefit [ADB] coverages, group universal life products [GULPs], leveraged corporate-owned life insurance [COLI], and the impact of the recent stock-market dip on variable universal life [VUL] sales. From the 1988 Record of Society of Actuaries, Vol. 14, No. 2.

Description: The Actuary Vol. 22, No. 2. This article discusses how the the choice of basis for measuring Interest Rate Spread impacts pricing and accounting for interest sensitive products.

Description: Full version of The Actuary Newsletter Volume 22, Number 2 - February 1988

Description: 1988 Valuation Actuary Symposium, In this session, the presenter suggests the value of the Reg 126 testing is a function of the attitude of the company toward the process. He also explored the differences in results by product of using deterministic versus stochastic scenarios.

Description: 1988 Valuation Actuary Symposium. The speakers in this session addressed the relative volatility of participating whole life versus universal life and the annual-premium versus single- premium basis.

Description: Full version of The Actuary Newsletter Volume 21, Number 9 - November 1987

Description: Author, a past general chairperson of the E&E Committee and currently a member of the Education Policy Committee and the Board of Governors, explains why the Actuarial Mathematics Exam 150 contained written-answer questions.

Description: After the 1986 tax-reform legislation, SPWL currently enjoys a tax treatment preferential to many other financial products. The author suggests that this distinction may not last long.

Description: Panelists discuss the Interim Actuarial Standards Board [IASB] recommendations, ratified by the Board of Directors of the American Academy of Actuaries and effective January 1987, concerning the determination or re-determination of non-guaranteed charges and/or benefits for life insurance and annuity contracts. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: This session discussion is about market developments, federal income tax outlook, investment strategy/crediting strategy, pricing considerations, valuation, nonforfeiture, and state filing considerations. Survivorship life also was discussed in the Q&A. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: Discusses how surplus should be defined, how it should be invested, and how the rating agencies may respond to various approaches. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.

Description: Panelists discuss new non-traditional investments, innovative assets and investment-management techniques, and their applications. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: Panelists discuss aspects of corporate-owned life insurance: in light of recent tax-law changes, compensation flexibility, policyholder administrative concerns, and the impact of low interest rates. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: Panel discussion gives the latest update on: Single Premium Whole Life, Single Premium Variable Life, Variable Universal Life, and Annuities. Includes current industry sales figures and distributions of variable-account assets for these products. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: Discusses new-product displacement of in-force policies, critical-resource management, agency considerations, and monitoring experience. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: Panelists discuss new methods, ideas, and approaches to products designed to provide adequate compensation to agents under new compensation arrangements and appropriate profits for insurers, while maintaining customer values. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: Panelists discuss underwriting issues as they relate to: re-entry term products, preferred/standard-risk classifications, single-premium products, simplified-issue markets, and jumbo face amounts requiring careful financial underwriting and care about alcohol and drug abuse. From the 1987 Record of Society of Actuaries, Vol. 13, No. 2.

Description: 1987 Valuation Actuary Symposium. This session presented views regarding Professional Development of regulators from the states of California, Texas and New York as well as comments from the government actuary in the United Kingdom.

Description: Presented at October 1986 Annual Meeting. Discusses the reasons for substantial changes in life insurance pricing philosophy in recent years and their impact on actuaries and companies both now and in the future.

Description: Presented at October 1986 Annual Meeting. This session discussion is about interest-sensitive products and methods of arriving at current rates, current regulatory restraints on illustrative rates, illustrations of vanishing premium products, advantages of deferring taxes on inside build-up, trends toward emphasis on marketing of financial services and buy term and invest the difference.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the demise of a company, the crisis and the solution.

Description: Presented at June 1986 Spring Meeting. This session discussion is about regulatory aspects , administrative aspects, financial reporting issues, Canadian products.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the impact of the Tax Equity and Fiscal Responsibility Act 'TEFRA', the Deficit Reduction Act 'DEFRA', and any new enacted or proposed revisions in the Internal Revenue Code on insurance company taxes, employee benefits and insurance products.

Description: Presented at May 1986 Spring Meeting. This session discussion is about techniques companies are using to maintain compatibility between investment practices and pricing assumptions for interest-sensitive products: Segregated assets, Use of options/futures, Asset/liability matching, Market value adjustments.

Description: Presented at May 1986 Spring Meeting. This session discussion is about Financial Reporting in Canada and the United States, Financial Accounting Standards Board 'FASB' update, National Association of Insurance Commissioners 'NAIC' update, the role of the Valuation Actuary in the United States.

Description: Presented at May 1986 Spring Meeting. This session discussion is about product designs, market factors, state regulation, SEC aspects - 6e-3T.

Description: Presented at May 1986 Spring Meeting. Discusses how decreases in mortality and improvements in selection of risk techniques are being offset by increased lapse rates and selection costs. The panel discussed current and anticipated responses.

Description: List of workshops and sessions with no written records at the October 1985 Annual Meeting.

Description: Presented at October 1985 Annual Meeting. Discusses managing risks via product design and investment strategy, and overview of the market and the risks.

Description: Table of contents for the October 1985 Annual Meeting.

Description: Presented at May 1985 Spring Meeting. This session discussed: Single premium deferred annuity, Flexible premium annuity, Universal life, Vanishing premium life, Indexed products, Variable products, Reinsurance.

Description: This session discussion: Product design, Risks and how to deal with them, Special features, Valuation considerations, Investment strategy, Regulatory developments.

Description: Presented at April 1985 Spring Meeting. This session discussed: Financial reporting systems as a source of information for product development, Interaction of pricing actuary, valuation actuary, and investment officer in designing interest-sensitive products, Allocation impact on product development - expense, investment income, tax, and capital, Financial reporting information on changing premium rates for nonguaranteed premium products, Maintaining consistency between pricing and financial projection models, and Reserve basis impact on product development.

Description: Presented at April 1985 Spring Meeting. This session discussed different accounting alternatives for products such as Universal Life, deferred annuities, variable products.

Description: This session from the 1984 SOA Toronto Meeting reviews the Canadian market and the evolution of non-traditional products, non-traditional products such as term to 100, business term and UL and external factors affecting life insurance. Record of the Society of Actuaries Vol. 10, No. 4A

Description: This session from the 1984 SOA New York City Meeting discusses the new distribution systems for investment-oriented products, brokers versus insurance agents and how investment-oriented products are influencing traditional life insurance distribution systems. Record of the Society of Actuaries Vol. 10, No. 3

Description: This session from the 1984 SOA Salt Lake City Meeting discusses many types of individual annuity products including single premium - SPDA's, annual premium, and flexible premium deferred annuities and structured settlement plans.

Description: This session from the 1984 SOA New York City Meeting discusses various investment risks, monitoring investment performance compared to objectives, measuring investment performance of GIC's, cash flow forecasting and investment programs and objectives. From Record of the Society of Actuaries Vol. 10, No. 3

Description: This session from the 1984 SOA Atlanta Meeting covers pending tax legislation with respect to life insurance companies, policyholder taxation and the current legislative outlook.

Description: This session from the 1984 SOA Atlanta Meeting reviews individual annuities, specifically IRA sales by insurance companies, separate account options, the brokerage market, bail-out options, SPDA's and accounting issues.

Description: This session from the 1983 SOA Hollywood, Florida Meeting reviews different strategies for the non-tax-qualified annuity market including marketing strategies, investment and investment alternative strategies and product design and cost considerations.

Description: This session from the 1983 SOA Vancouver Meeting discusses current regulatory topics affecting life insurance and annuity product development including smoker/non-smoker mortality tables, unisex legislation being considered and life insurance without guaranteed cash values. From Record of Society of Actuaries Vol. 9, No. 3

Description: This session from the 1983 SOA Spring Meeting discusses individual life insurance including the changing markets, distribution systems, products, regulation, and taxes.

Description: This session from the 1983 SOA Spring Meeting discusses accounting issues for insurance companies including SPDA and UL accounting, reinsurance accounting and the NAIC Blanks Task Force Meeting. From Record of Society of Actuaries Vol. 9, No. 2.

Description: This session from the 1983 SOA Spring Meeting reviews trends in annuity product design, marketing and agents' compensation, investment strategies, and annuitant mortality. From Record of Society of Actuaries, Vol. 9, No. 2.

Description: The purpose of this paper is to provide a unified theory for the evaluation of underwriting requirements where this evaluation is based on the measurement of the levels of mortality costs associated with such requirements. A discussion of this paper is included.

Description: The panel discussed US federal income taxes, addressing parts of the tax equity and fiscal responsibility Act of 1982- TEFRA- related to life insurance company taxes and policy owner aspects that are involved. Discussion of the repeal of existing tax law provisions relating to certain reinsurance transactions is also discussed

Description: Panel discussion from the April 1982 Society of Actuaries meeting in Houston on the topic of the financial services industry and its response to inflation and deregulation. Topics included: 1. Industry reconfiguration, relative competitiveness of various segments of the industry. 2. New products and technological advance 3. Impacts on the life insurance industry. a. Bank marketing of insurance products b. Investment and bank products marketed by insurers

Description: RECORD OF SOCIETY OF ACTUARIES 1981 VOL. 7 NO. 3 This discussion looks at the future of permanent life insurance as of 1981, comparing traditional permanent products to term life, universal life, and non life insurance products. Related uncertain economic environment issues and tax issues are discussed.

Description: This 1981 session concerned Individual Life Insurance Cost Disclosure Issues including i. Current Status of Cost Disclosure Requirements 2. Responses to Cost Disclosure Pressures 3. Future Needs and Problems 4. Vehicles Available to Effect Changes There is also a discussion of replacements and the need for better communication of the comparisons of the replaced policy to the new policy to prospective buyers.

Description: Discussion on the future of permanent life insurance. The panel examines whether cash value life insurance will continue in light of uncertain economic future, double digit inflation, competitive term products, replacements, increasing policy loans, attractive alternative savings products and the consumerist/regulatory atmosphere. g. Consumerist and regulatory atmosphere? h. Possible changes in tax, nonforfeiture and valuation laws?

Description: This panel discussion is about the viability of single premium annuities and single premium life insurance. Items discusses include product design, pricing and regulatory issues with the back drop of high inflation of the times.

Description: This paper discusses an example showing how simulation has been used to develop financial projections for variable life insurance with a guaranteed minimum death benefit and how recourse to mathematical analysis based on risk-theoretic considerations can enable us to see the impact of stock price changes more clearly. These projections reveal the effects of stock price fluctuations interacting with the more common elements, such as mortality and persistency, on the financial results of a variable life insurance operation.

Description: The method in this paper is to derive expressions for mortality between integral values of age underlying the typical approximations employed, and to compare such expressions. Annuity and life reserve formulas are compared. Discussions of the paper are included.

Description: Whether included at inception or added later, and whether insured or not, death benefits will be here regarded as distinctly secondary to retirement benefits. This paper is followed by a discussion. From Transactions of Society of Actuaries 1958, Vol. 10, No. 26.