Product

Life and annuity product features and their design.

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)
Accelerated Underwriting Project Oversight Group (reporting to the Academy's Life Experience Committee and SoA's Preferred Mortality Oversight Group) comments to NAIC's Life Actuarial Task Force (LATF) discussing future experience study data elements. (July 14, 2017)
Nonforfeiture Modernization Work Group report to the NAIC's Life Actuarial Task Force (LATF) summarizing its activities, recommendations and conclusions, and items that have not yet been addressed.  (July 7, 2017)
Actuarial Guideline 43/C-3 Phase II Work Group comments to the NAIC on the variable annuities blanks proposal exposed on Nov. 19. (January 29, 2016)
Lifetime Income Risk Joint Task Force issue brief explaining general retirement planning considerations. (October 22, 2015)
Lifetime Income Risk Joint Task Force issue brief intended to give a high-level perspective on a few key risks and aspects related to lifetime income. (October 22, 2015)
Nonforfeiture Modernization Work Group comment letter to NAIC Life Actuarial (A) Task Force on exposed edits to the standard nonforfeiture law for annuities regarding requirements for contingent deferred annuities (CDA). (May 13, 2015)
Deposit Fund Subgroup comment letter to NAIC Life Actuarial (A) Task Force on exposed edits to the model regulation for synthetic guaranteed investment contracts (GIC). (April 22, 2015)
Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on proposed actuarial guideline for indexed universal life illustrations. (April 14, 2015)
Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on exposed actuarial guideline for indexed universal life illustrations. (March 11, 2015)
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)
Separate Account Product Work Group comment letter to the NAIC Separate Account Risk Working Group on its revised recommendations for separate accounts exposed May 7, 2014.
(June 5, 2014)
Life Illustrations Work Group comment letter to the Life Actuarial Task Force on ACLI proposal for an Actuarial Guideline for Indexed Universal Life Illustrations.
(May 23, 2014)
AG 43/C-3 Phase II Work Group comment letter to NAIC on ACLI proposals for modification of reserve and capital requirements for contingent deferred annuities. (May 8, 2014)
Separate Account Products Work Group additional comments on the Potential Actions/Recommendations (Document 2) exposed for comment on Nov. 18, 2013, by the NAIC Separate Account Risk (E) Working Group.
(May 5, 2014)
Nonforfeiture Modernization Work Group update to the NAIC Life Actuarial Task Force on the Gross Premium Nonforfeiture Method.
(March 28, 2014)
Contingent Annuity Issues Work Group responses to questions from the NAIC regarding the reserving and capital requirements for contingent annuities.
(March 21, 2014)
Work Group Nonforfeiture Illustrations for GLWBs
Nonforfeiture Modernization Work Group spreadsheet for the NAIC Life Actuarial Task Force that illustrates potential nonforfeiture benefits for guaranteed lifetime withdrawal benefits contained in fixed deferred annuities based on the work group’s December proposal.
(January 30, 2014)