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 Life Principle-Based Approach Practice Note Work Group released an updated version of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations.  (January 17, 2019)
The Role of the Actuary Subroup submitted a comment letter to the NAIC suggesting that the definitions and guidance related to the various forms of actuarial opinion in VM-30 could be clarified.  (January 10, 2019)
The Life Reserves Work Group submitted a comment letter regarding credited amounts for indexed accounts in the calculation of the Deterministic Reserve (DR), outlined in amendment proposal form (APF) 2018-44 to the Life Actuarial (A) Task Force.  (January 2, 2019)
The Non-Guaranteed Elements Work Group submitted a comment letter outlining their proposal for a NAIC life insurance online guide landing page.  (November 28, 2018)
The PBR Governance Work Group provided an update to the Life Actuarial (A) Task Force on the Academy’s involvement with principle-based reserves. (November 14, 2018)

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

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.