Life News

The RBC Tax Reform Work Group submitted a comment letter to the NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the Interpretation of 2018 Life Risk-Based Capital Results.  (February 19, 2019)
The Life Reserves Work Group submitted a comment letter to the Life Actuarial (A) Task Force regarding exposed APF 2019-04, which seeks to provide clarification for expense allowance formulas for universal life with secondary guarantee (ULSG). (February 19, 2019)
The Life Experience Committee sent a comment letter to the Life Actuarial (A) Task Force to address questions that were raised during the NAIC Fall 2018 National Meeting regarding the current process used to develop the AG38 and VM-20 annual mortality improvement scale recommendations.  (February 19, 2019)
The Life Illustrations Work Group updated their 2018 practice note to reflect implications from the 2017 passage of the Tax Cuts and Jobs Act, pertinent to ASOP No. 24.  (February 15, 2019)
The Role of the Actuary Subgroup sent a comment letter to the Variable Annuities Capital and Reserve (E/A) Subgroup on the use of the terms "actuary" and "qualified actuary" in draft revisions to VM-21.  (February 13, 2019)
The Life Reinsurance Work Group provided comments to the NAIC's Life Actuarial (A) Task Force regarding the possible impact of varying interpretations of current VM-20 guidance for determination of future nonguaranteed yearly renewable term reinsurance rates.  (January 31, 2019)
The PBR Assumptions Resource Manual Work Group released a step-by-step, sample framework for setting, updating, and governing life insurance assumptions for PBR and other valuation frameworks.  (January 29, 2019)
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)
The SVL Interest Rate Modernization Work Group provided an update to the Life Actuarial (A) Task Force on the modernizing the process of setting valuation interest rates for all non-variable annuities. (November 14, 2018)
The Annuity Reserves Work Group provided an update to the Life Actuarial (A) Task Force on their recommended changes to VM-22. (November 13, 2018)
The Reinsurance Work Group gave a presentation to the Life Actuarial (A) Task Force on potential issues relating to VM-20 Credit for Reinsurance.
(November 13, 2018)
The Annuity Illustration Work Group submitted a letter, consolidating their comments to the NAIC, on proposed changes to Annuity Disclosure Model Regulation #245.  (October 18, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on mortality experience assumptions and the selection of the industry basic table when company experience mortality rates are higher than the industry basic table.  (October 3, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.  (September 12, 2018)
The RBC Tax Reform Work Group submitted a guidance document to the NAIC on the interpretation of life risk-based capital results in light of the 2017 Tax Cuts and Jobs Act.  (September 7, 2018)
The Life Illustrations Work Group submitted a comment letter to the NAIC on draft changes to Model #582.  (August 31, 2018)