Life News

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)
The Tax Work Group submitted a comment letter to the NAIC’s Statutory Accounting Principles (E) Working Group on SSAP 101 and Federal Income Tax Reform.  (February 16, 2018)
The C1 Work Group submitted a comment letter to the NAIC’s Investment Risk-Based Capital (E) Working Group on proposed Risk Based Capital C1 factors for corporate bonds. 
(February 14, 2018)
The Annuity Illustration Work Group submitted a comment letter to the NAIC's Annuity Disclosure (A) Working Group regarding proposed changes to the Annuity Disclosure Model Regulation (#245).
(January 31, 2018)
The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.  (January 26, 2018)
The Academy released a summary of select significant regulatory and legislative developments in 2017 at the state, federal, and international levels of interest to the U.S. actuarial profession.
(January 12, 2018)
The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01. (January 11, 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 CEJ Expanded Outline. (January 3, 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 NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.  (December 14, 2017)
The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members. (December 14, 2017)
Arnold Dicke, Chair of the Role of the Actuary Subgroup, presented an update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary” in the valuation manual and standard valuation law.  (December 1, 2017)
Donna Claire, Chair of the PBR Governance Subgroup, presented an update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation. (December 1, 2017)
The Life Practice Council sent a comment letter to the NAIC's Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements. (December 1, 2017)
Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on joint committee recommended changes related to guaranteed issue (GI) tables, and exposed simplified issue (SI) exposed tables and report.  (November 30, 2017)
Mary Bahna-Nolan, Chair of the Academy’s Life Experience Committee, gave a presentation to the NAIC Life Actuarial (A) Task Force on developing accelerated  underwriting techniques. (November 30, 2017)
Dave Neve, Chair of the Academy’s Life Practice Council, presented a preliminary summary to the NAIC Life Actuarial (A) Task Force on the aggregation of mortality segments in VM-20.
(November 30, 2017)
The Non-Guaranteed Elements Work Group submitted a comment letter on the NAIC's Life Insurance Buyer's Guide Q&A Draft.  (November 15, 2017)
The Academy published a new Essential Elements paper, Tax Treatment of Pensions and Insurance Protections, highlighting select tax treatments of pensions and insurance protections, and outlining the potential public policy trade-offs of changes to the tax code. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(November 13, 2017)
The Life Reinsurance Work Group Submitted a comment letter to the NAIC's Life Actuarial (A) Task Force on yearly renewable term (YRT) reinsurance premiums under Section 20 of the Valuation Manual.  (November 10, 2017)