Life

The Life Practice Council (LPC) provides objective technical expertise to policymakers and regulators on life insurance issues, including a principle-based regulatory approach to reserving and risk-based capital.

Capital
Capital
Life and annuity capital adequacy and recommendations to improve life Risk-based Capital (RBC) requirements.
Financial Reporting
Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
Product
Product
Life and annuity product features and their design.
Reserves
Reserves
The minimum statutory reserve standard for all life and annuity products.
Principle-based Approach (PBA)
Principle-based Approach (PBA)
Modernization of the framework for determining life insurers' statutory required capital and reserves in the United States. Click here to know more about PBA.
More Life Issues
More Life Issues

Life News

Practice Councils Submit Comments to NAIC Joint Qualified Actuary (A/B/C) Subgroup
The Casualty, Life, Health, and Professionalism councils submitted comments to the NAIC's Joint Qualified Actuary (A/B/C) Subgroup on the subgroup's two new charges related to defining a "qualified actuary" and recommending a process to address "unprofessional" actuarial work. (February 11, 2013)
Order Your 2013 Life & Health Valuation Law Manual
The Life & Health Valuation Law Manual is now available. The manual is designed to help appointed actuaries comply with the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation. (January 25, 2013)
Annuity Illustration Subgroup Comments on NAIC Buyer’s Guide
The Annuity Illustration Subgroup submitted comments to the NAIC Annuity Disclosures (A) Working Group on the November 28, 2012 draft of the Buyers Guide for Deferred Annuities. (January 18, 2013)
LPC Comments on NAIC PBR Draft Implementation Plan
The Life Practice Council submitted a comment letter to the National Association of Insurance Commissioners' Principles-Based Reserving (E) Working Group with suggested changes to its November 2012 draft implementation plan for principle-based reserving of life insurance. (January 11, 2013)
Life Practice Council Presents Post-NAIC Webinar
The Life Practice Council presented a webinar reviewing the NAIC Fall 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. The December 13 webinar included a Fall 2012 LATF update, PBR update, and a presentation on the 2012 Individual Annuity Mortality Tables and Model Regulation. (December 13, 2012)
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Life Public Statements

Comments and letters

Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.

Issue briefs

Analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public.

Policy papers

Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public. Includes monographs and white papers.

Presentations

Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.

Reports to the NAIC

The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of the life practice councils.

Testimony

Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.

Practice Notes

Practice notes

Generally written in a Q&A format, practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.