Life
The Academy’s Life Practice Council (LPC) is dedicated to providing policymakers and regulators with unbiased technical expertise.
From crafting principle-based regulatory frameworks to optimizing risk-based capital strategies, the LPC is at the forefront of innovation in the life insurance industry.
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Life and annuity capital adequacy and recommendations to improve life Risk-Based Capital (RBC) requirements.
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Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Life News
Health Committee News
ASB Adopts Final Revision of ASOP No. 5
The ASB recently adopted a final revision of ASOP No. 5, Incurred Health Claim Liabilities. This ASOP provides guidance to actuaries when estimating or reviewing incurred claims when preparing or…
Topics: ASB News
Date Published: 04/27/2017
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Life Committee News
ASB Approves Exposure of Proposed ASOP on Principle-Based Reserves for Life Products
The ASB approved an exposure draft of a proposed new ASOP titled Principle-Based Reserves for Life Products. The proposed ASOP will apply to actuaries when performing actuarial services on behalf of…
Topics: ASB News
Date Published: 04/14/2017
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Life Resources
ASOP
NAIC Life Insurance Illustrations Model Regulation
September 2024 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in the NAIC Life Insurance Illustrations…
ASOP
Proposed Revision of ASOP No. 24 – NAIC Life Insurance Illustrations Model Regulation
March 2024 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in the NAIC Life Insurance Illustrations…
ASOP
Pricing Reinsurance or Similar Risk Transfer Transactions Involving Life Insurance, Annuities, or Long-Duration Health Benefit Plans (Exposure Draft)
TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Pricing Reinsurance or Similar Risk Transfer…
ASOP
Proposed Revision of ASOP No. 7 – Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk
TO: Members of the Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in the Life, Health, or Property/Casualty Insurance…
ASOP
Proposed Revision of ASOP No. 24 – Compliance with the NAIC Life Insurance Illustrations Model Regulation (Second Exposure Draft)
TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Compliance with the NAIC Life Insurance Illustrations…
ASOP
Statements of Actuarial Opinion Not Based on an Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Related Actuarial Items
September 2022 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Statements of Actuarial Opinion Not…
ASOP
Proposed Revision of ASOP No. 10 – U.S. GAAP for Long-Duration Life, Annuity, and Health Products (Exposure Draft)
TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in U.S. GAAP for Long-Duration Life, Annuity, and Health…
ASOP
Proposed Revision of ASOP No. 24 – Compliance with the NAIC Life Insurance Illustrations Model Regulation (Exposure Draft)
June 2021 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Compliance with the NAIC Life Insurance…
ASOP
Proposed Revision of ASOP No. 2 – Nonguaranteed Elements for Life Insurance and Annuity Products (Second Exposure Draft)
June 2020 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in Nonguaranteed Elements for Life Insurance…
ASOP