Life News

The Life Operational Risk Work Group submitted a comment letter to the NAIC Operational Risk (E) Subgroup on incorporating prospective operational risk growth charge into the life Risk-Based Capital formula.  (June 6, 2018)
The Life Reserves Work Group submitted an APF which seeks to revise the approach in VM-20 to determine the credited rate for index accounts in the calculation of the Deterministic Reserve (DR).  (June 1, 2018)
The Life Products Committee submitted a comment letter to the NAIC Life Actuarial (A) Task Force on the exposed Actuarial Guideline, Application of Section 6 of the Standard Nonforfeiture Law for Individual Deferred Annuities Model 805.   (May 29, 2018)
The AG43/C3P2 Work Group submitted a follow-up comment letter to the NAIC Variable Annuity Issues Working Group on previously submitted recommendations to the working group.  (May 11, 2018)
The Tax Work Group published a paper on frequently asked questions about life insurance tax reserve methods and assumptions.  (May 9, 2018)
The Life Illustrations Work Group submitted a comment letter to the NAIC Life Insurance Illustration Issues Working Group on draft changes to Model #582.  (April 30, 2018)
The RBC Tax Reform Work Group submitted a follow-up letter to the NAIC Life Risk-Based Capital Working Group on additional comments regarding the impact of changes to corporate tax rate on RBC calculations.  (April 24, 2018)
The PBR Model Governance Work Group submitted an amendment proposal form to the NAIC on universal life with secondary guarantees (ULSG) net premium reserve (NPR) lapse rate outlined in VM-20 Section 3.C.  (April 23, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC Life Insurance Buyer's Guide (A) Working Group on their recent exposure draft.  (April 4, 2018)
The RBC Tax Reform Work Group submitted a comment letter to the NAIC on suggested changes to risk-based capital calculations.  (April 3, 2018)
Wayne Stuenkel, chairperson of the RBC Tax Reform Work Group, presented an update on the effects of tax reform to the NAIC's Life-Risk Based Capital Working Group.  (March 24, 2018)
The PBA Governance Work Group presented an update on Academy involvement with PBR to the NAIC's Life Actuarial (A) Task Force.  (March 23, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases.  (March 22, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements.  (March 22, 2018)
Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study.  (March 22, 2018)
Chris Whitney, member of the Life Reserves Work Group, gave a presentation on deterministic reserve considerations for indexed universal life (UL) under VM-20 to the NAIC's Life Actuarial (A) Task Force.  (March 22, 2018)
The RBC Tax Reform Work Group submitted a comment letter to the NAIC's Life Risk-Based Capital (E) Working Group on changes to Risk-Based Capital calculations due to recent U.S. corporate tax reform.  (March 16, 2018)
The AG43/C3P2 Work Group submitted a comment letter to the NAIC's Variable Annuities (E) Working Group on proposed modifications to Actuarial Guideline XLIII (AG43) and C-3 Phase II (C3P2).  (March 2, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the revised draft for the Life Insurance Buyer's Guide.  (February 22, 2018)
The Life Reserves Work Group submitted an APF to the NAIC Life Actuarial (A) Task Force on potential changes to VM-20 on the aggregation of mortality segments for the purpose of determining credibility.  (February 21, 2018)