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.

Life and annuity capital adequacy and recommendations to improve life Risk-based Capital (RBC) requirements.
Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
Life and annuity product features and their design.
The minimum statutory reserve standard for all life and annuity products.
Principle-Based Reserving (PBR)
The Academy has assembled materials to assist actuaries and regulators as the U.S. moves into the implementation phase of PBR for life insurance. Click here to access these materials and here to access public statements made by the Academy related to PBR.
More Life Issues

Life News

The Principle-Based Reserve (PBR) Model Governance Practice Note Work Group released a new practice note to provide additional information for practicing life actuaries seeking to better understand models, model risks, model governance, and related issues, as these actuaries implement PBR.
(April 20, 2017)
Tricia Matson, chairperson of the Longevity Risk Task Force, presented an update on efforts to develop a methodology for recognizing longevity risk in statutory reserves and risk-based capital (RBC) to the NAIC's Life RBC Working Group. (April 8, 2017)
Mary Bahna-Nolan, chairperson of the joint committee of the Academy’s Life Experience Committee and SOA Preferred Mortality Oversight Group, presented updates on its work to the Life Actuarial Task Force (LATF) on guaranteed issue and preneed mortality tables, and simplified issue and accelerated underwriting mortality under VM-20. (April 6, 2017)
The Life Experience Committee gave a report to the NAIC Life Actuarial Task Force (LATF) on 2017 guaranteed issue mortality tables, including spreadsheets with a blended mortality table, a male mortality table, and a female mortality table. (April 6, 2017)
The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on a draft report on operational life risk-based capital. (March 17, 2017)

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.


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.


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.