Life News

The Life Illustrations Work Group submitted comments to the Actuarial Standards Board (ASB) on revisions to ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. (September 29, 2016)
The Stress Testing Work Group submitted comments to the NAIC's Stress Testing (E) Subgroup on providing assistance to help meet its charge. (September 28, 2016)
The Nonforfeiture Modernization Work Group submitted comments to the NAIC's Life Actuarial Task Force (LATF) with regard to potentially updating standard nonforfeiture laws. (September 28, 2016)
The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 (A) Subgroup on Non-Jumbo and Jumbo Sample Calculations on valuation interest rates. (September 21, 2016)
The Life Products Committee submitted comments to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP) that applies to the pricing of life insurance and annuity products. (August 24, 2016)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update on guaranteed issue and preneed mortality table to the Life Actuarial Task Force. (August 24, 2016)
John Miller, chairperson of the Annuity Reserves Work Group, provided a non-variable annuity PBR update to LATF’s VM-22 Subgroup. (August 24, 2016)
Art Panighetti, a member of the Longevity Risk Task Force, presented an update to LATF on the task force’s work, including creating a working definition of “longevity risk,” analyzing U.S. mortality tables and reviewing regulatory and company approaches to longevity risk. (August 24, 2016)
The Lifetime Income Risk Joint Task Force submitted a comment letter to the Department of Labor concerning proposals for increasing retiree income options, with a focus on additional safe harbors that encourage delivering lifetime income.
(August 19, 2016)
The Life Illustrations Work Group submitted comments to the NAIC's IUL Illustrations (A) Subgroup regarding the extension of Actuarial Guideline 49 (AG 49) to all inforce life insurance illustrations. (August 1, 2016)
The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on how operational risk, including a prospective growth charge, might be better reflected in the Life Risk-Based Capital Formula. (July 27, 2016)
The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance. (July 15, 2016)
The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 Subgroup of the Life Actuarial Task Force (LATF) in a question-and-answer format on the determination of statutory valuation interest rates. (July 15, 2016)
The Life Reserves Work Group (LRWG) submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the exposed NAIC staff Amendment Proposal Form (APF) on VM-20 product aggregation. (July 5, 2016)
The Life Practice Council submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the qualified actuaries’ responsibilities to the interests of the company versus the commissioner. (June 30, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the Consolidated ACLI and Academy Amendment Proposal Form. (June 22, 2016)
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue and preneed mortality to the Life Actuarial Task Force. (June 16, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on Section 4 of the Valuation Manual-G. (June 10, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on combined revisions regarding VM-G of the Valuation Manual. (June 3, 2016)
The Life Reserves Work Group (LRWG) submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the Minnesota Department of Commerce Amendment Proposal Form (APF) on post-level term profit assumptions. (May 18, 2016)