Nonforfeiture Modernization Work Group

The Nonforfeiture Modernization Work Group (formerly the Nonforfeiture Improvement Work Group) is studying the feasibility of a new nonforfeiture law for life insurance and annuities to replace the existing standards. The scope of the group’s work include a historical review of existing life and annuity nonforfeiture requirements, an analysis of their applicability to products in the current and potential future life and annuity marketplace, and the development of a set of recommendations for a revised approach to nonforfeiture, to be presented to the NAIC's Life and Health Actuarial Task Force.

Staff liaison: John Meetz

Chairperson: John MacBain
 Noel Abkemeier
 Mary Bahna-Nolan
 Thomas Berry
 Eric Carlson
 Armand De Palo
 Anthony Ferraro
 Alice Fontaine
 Barbara Gold
 Andrew Gordon
 David Hippen
 Barbara Lautzenheiser
 Brian Lessing
 Douglas Lubliner
 Stephen McNamara
 Donna Megregian
 Cande Olsen
 Nicholas Pasyanos
 Sandra Potasky
 Tomasz Serbinowski
 Mark Shickler
 Randall Stevenson
 Wayne Stuenkel
 P Andrew Ware

Related Publications

Guaranteed Nonforfeiture Basis Factor Assumptions Report
Nonforfeiture Modernization Work Group Guaranteed Nonforfeiture Basis Factor report to the Life Actuarial Task Force at the NAIC meeting in National Harbor, MD. (November 27, 2012)
Guaranteed Nonforfeiture Basis Factor Assumptions Presentation
Nonforfeiture Modernization Work Group Guaranteed Nonforfeiture Basis Factor presentation of its report to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012)
NFIWG Quarterly Update
Nonforfeiture Improvement Work Group's quarterly report to the NAIC's Life Actuarial Task Force at the NAIC's Spring National Meeting. (March 01, 2012)
Follow-up Comment to LATF with Suggested Revisions to VM-20
Tax Work Group, in conjunction with the Nonforfeiture Improvement Work Group, follow-up comment letter to the Life Actuarial Task Force with suggested revisions to VM-20. (October 12, 2011)
Report of the Nonforfeiture Improvement Work Group
Nonforfeiture Modernization Work Group's Nonforfeiture Improvement Report that makes certain recommendations with respect to life insurance and annuity nonforfeiture mandates and sets forth certain items for further discussion. (August 01, 2011)
NFIWG Summary of Nonforfeiture Related Public Policy Issues for LATF
Nonforfeiture Improvement Work Group summary of public policy issues associated with life and annuity nonforfeiture reform to the NAIC's Life Actuarial Task Force. (March 01, 2011)
NFIWG Report to LHATF on Economic Scenario Generators
Economic Scenario Implementation Work Group update on future plans for economic scenario generators with LHATF. (June 11, 2009)
NFIWG Report to LHATF on General Revision of Life and Annuity Standard Nonforfeiture Laws
Nonforfeiture Improvement Work Group update regarding a general revision of life and annuity standard nonforfeiture laws. (March 01, 2009)
Nonforfeiture Modernization Work Group Presents to LATF on Guaranteed Nonforfeiture Basis Factor Assumptions