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.
Capital
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
Comment / Letter
Comment Letter on Model 245 Exposure
The Life Products Committee submitted exposure questions regarding Model #245 to the NAIC Life Insurance and Annuities Illustration (A) Working Group.
Comment / Letter
C-2 Longevity Discussion Topics for 2026 Plan
The Longevity Risk Task Force submitted C-2 discussion topics for 2026 to the NAIC Longevity Risk (E/A) Subgroup.
Topics: Risk-Based Capital
Comment / Letter
Annuity Buyer’s Guide Comments
The Life Products Committee submitted comments to the NAIC’s Annuity Buyer’s Guide (A) Working Group on the Working Group’s recent draft Buyer’s Guide on Deferred Annuities.
Comment / Letter
Life Products Committee Comments to NAIC
The Life Products Committee sent a comment letter to the NAIC’s Life Insurance and Annuity Illustrations (A) Working Group on annuities issues from the working group’s February meeting.
Topics: Life
Comment / Letter
Comments on VM-22 Aggregation
The Annuity Reserves and Capital Subcommittee submitted comments to the NAIC’s Life Actuarial (A) Task Force on APF 2025-20 regarding VM-22 Aggregation.
Comment / Letter
Comments on VM-22 Settlement Options
The Annuity Reserves and Capital Subcommittee submitted comments to the NAIC’s Life Actuarial (A) Task Force on an exposure regarding APF2025-19 VM-22 Settlement Options.
Comment / Letter
Comments on Proposed IUL Drafting Group
The Life Products Committee submitted a comment on the exposed question on nonforfeiture clarifications. In particular, the Committee offered support of the formation of a drafting group to consider…
Comment / Letter
Comments on VM-22 In-Force Questions
The Annuity Reserves and Capital Subcommittee submitted a comment letter in response to the Life Actuarial (A) Task Force’s VM-22 In Force Questions exposed during the 2025 Fall National Meeting
Comment / Letter
Comments on Illiquidity Spreads in PBR Calculations
The Annuity Reserve and Capital Subcommittee submitted comments on principles for applying an Illiquidity Spread in PBR calculations to the NAIC’s Life Actuarial (A) Task Force.
Comment / Letter