Life Products Committee

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.

Related Publications

Committee Comments on APF 2024-16

The Life Products Committee provided comments to the Life Actuarial (A) Task Force on a re-exposure of APF 2024-16, meant to provide guidance on a universal life nonforfeiture issue. 
Date Published: 02/28/2025
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Committee Comments on APF 2024-16

The Life Products Committee commented on the recent exposure of APF 2024-16, which attempts to address requests for guidance on a standard nonforfeiture issue related to universal life policies in...
Date Published: 01/24/2025
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Academy Comment Letter to the Colorado Division of Insurance on SB21-169 on Life Insurance Underwriting

Academy Comment Letter to the Colorado Division of Insurance on SB21-169 on Life Insurance Underwriting   
Topics: Life Insurance
Date Published: 05/02/2022
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Academy Comment Letter on Exposure of Proposed Actuarial Guideline related to Indexed-Linked Variable Annuities

Academy Comment Letter on Exposure of Proposed Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts.  
Topics: Annuities
Date Published: 05/02/2022
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Subcommittee comment letter on exposed Actuarial Guideline

Life Products Committee comment letter to NAIC on exposed Actuarial Guideline, Application of Section 6 of the Standard Nonforfeiture Law for Individual Deferred Annuities Model 805.  
Topics: Annuities NAIC
Date Published: 05/28/2018
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Committee Comment Letter on Proposed ASOP

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.   
Date Published: 10/31/2017
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Work Group Comments on Life Insurance Buyer’s Guide Discussion Draft

Non-Guaranteed Elements Work Group comment letter on the NAIC’s Life Insurance Buyer’s Guide (A) Working Group discussion draft.
Date Published: 10/19/2017
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Work Group Comments on Life Insurance Buyer’s Guide Discussion Draft

Guaranteed Elements Work Group comment letter on the NAIC’s Life Insurance Buyer’s Guide (A) Working Group discussion draft.
Date Published: 10/19/2017
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Work Group Comments to New York Agency on Life Insurance Regulation

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...
Topics: Life Insurance
Date Published: 01/17/2017
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Committee Comments to ASB on Proposed ASOP

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. 
Date Published: 08/24/2016
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Comments on Exposure Draft of Life Insurance and Annuity Pricing ASOP

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. 
Date Published: 12/15/2014
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AIWG Comments to NAFA on Annuity Disclosure Model Regulation

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.  
Topics: Annuities
Date Published: 02/17/2011
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Testimony on Department of Labor Lifetime Income Options Hearing

Testimony on the Department of Labor hearing on certain issues relating to Lifetime Income Options for participants and beneficiaries in retirement plans. 
Topics: Retirement
Date Published: 08/16/2010
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Comments on Proposed Changes to Unfair Trade Practices Model Act

Life Products Committee comments to the NAIC on travel-related life insurance provisions in a draft model trade law. 
Date Published: 07/31/2007
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Comments to NAIC on Proposed Travel Underwriting Provisions

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...
Date Published: 01/31/2007
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Comment Letter to NAIC on Unfair Trade

Comment Letter on proposed NAIC unfair trade amendment. 
Topics: NAIC
Date Published: 12/01/2006
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Comment Letter to State Regulators on Florida Travel Underwriting

Life Products Committee comment letter to state insurance regulators on Florida travel underwriting rule. 
Date Published: 12/01/2006
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LPC Paper for Testimony at NAIC Hearing on Considering Travel Destination in Life Underwriting

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. 
Date Published: 09/09/2006
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Paper for NAIC on Travel Destination

Paper for testimony at an NAIC committee hearing on considering travel destination in life underwriting 
Topics: NAIC
Date Published: 09/09/2006
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Report on Short-Term Changes Needed in Standard Nonforfeiture Law

Life Products Committee report to the NAIC's Life and Health Actuarial Task Force on short term changes needed to the standard nonforfeiture laws. 
Topics: NAIC
Date Published: 09/01/2006
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