Life Products Committee

The Life Products Committee proactively provides actuarial support, advice, and communications on life and annuity products. The committee focuses on product features and their design, and may coordinate with other committees on financial and solvency issues. The committee communicates with, and provides information to, the membership of the Academy when there are actuarial developments of interest to the membership that warrant additional communications. The committee also stands ready to respond to regulatory requests on product issues, and proactively seeks areas where the Academy should provide input to regulators. The committee engages in the development of public policy at the state, federal, and international levels.

Staff liaison: Ian Trepanier

Chairperson: Laura Hanson
Mary Bahna-Nolan
Susan Bartholf
Thomas Berry
Timothy DeMars
Andy Ferris
Scott Haugh
Lisa Martell
Donna Megregian
Cande Olsen
Timothy Pfeifer
Charles Ritzke
Gabriel Schiminovich
James Thompson

Related Publications

The Life Products Committee comment letter to the Actuarial Standards Board regarding a proposed actuarial standard of practice (ASOP) on pricing of life insurance and annuity products. 
(October 31, 2017)
Non-Guaranteed Elements Work Group comment letter on the NAIC’s Life Insurance Buyer’s Guide (A) Working Group discussion draft. (October 19, 2017)
Non-Guaranteed Elements Work Group comment letter on the NAIC’s Life Insurance Buyer’s Guide (A) Working Group discussion draft. (October 19, 2017)
Non-Guaranteed Elements Work Group comments to the New York state Department of Financial Services on Proposed 11 NYCRR 48 (Insurance Regulation 210) on life insurance and annuity non-guaranteed elements. (January 17, 2017)
Life Products Committee 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)
Life Products Committee (LPrC) comment letter to Actuarial Standards Board on exposure draft of an Actuarial Standard of Practice (ASOP) on Life Insurance and Annuity Pricing. (December 15, 2014)
Annuity Illustration Work Group letter to the National Association of Fixed Annuities with comments in response to its recommendations on the Annuity Disclosure Model Regulation. (February 17, 2011)
Testimony on the Department of Labor hearing on certain issues relating to Lifetime Income Options for participants and beneficiaries in retirement plans. (August 16, 2010)
Life Products Committee comments to the NAIC on travel-related life insurance provisions in a draft model trade law. (July 31, 2007)
Letter to the chairman of the NAIC Life Insurance and Annuities Committee from the Life Products Committee on revisions to NAIC Unfair Trade Practices Act Concerning Travel Underwriting with suggested revisions. (January 31, 2007)
Life Products Committee comment letter to state insurance regulators on Florida travel underwriting rule. (December 01, 2006)
Comment Letter on proposed NAIC unfair trade amendment. (December 01, 2006)
Paper for testimony at an NAIC committee hearing on considering travel destination in life underwriting (September 09, 2006)
Life Products Council paper supporting a move to a principles-based system to the NAIC's Life Insurance and Annuities Committee regarding the travel underwriting issue. (September 09, 2006)
Life Products Committee report to the NAIC's Life and Health Actuarial Task Force on short term changes needed to the standard nonforfeiture laws. (September 01, 2006)
Nonforfeiture Improvement Work Group report to the NAIC on revising standard nonforfeiture laws. (June 01, 2003)
Life Products Committee report on low interest rates and nonforfeiture law for individual deferred annuities to the NAIC. (December 01, 2002)
Committee Submits Comments to ASB on Proposed ASOP
Work Group Submits Comments to New York Agency on Life Insurance Regulation
Work Group Submits Comment Letter to NAIC’s Life Insurance Buyer’s Guide (A) Working Group