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
Issue Brief
Issue Brief Examines Bermuda-Ceded Reinsurance Considerations
A new issue brief from the Asset Adequacy and Reinsurance Task Force, Asset-Intensive Reinsurance Ceded Offshore From U.S. Life Insurers (With Focus on Bermuda), offers a summary of motivations,…
Topics: Reinsurance
Issue Brief
Committee Releases Issue Paper on Dynamic Lapses
The Life Experience Committee released an issue paper, Considerations Regarding Dynamic Lapses in Actuarial Modeling. The issue paper explores items that impact lapses and discusses the impact of…
Issue Brief
LPC Update Presentation
The Life Practice Council (LPC) and Life Experience Committee (LEC) submitted a presentation to NAIC’s Life Actuarial (A) Task Force’s Subgroup on current LPC workstreams as well as two issue…
Topics: NAIC
Issue Brief
Lifetime Income Risk Joint Committee Releases Issue Brief on Various Types of Insured Annuities
The Academy’s Lifetime Income Risk Joint Committee released an issue brief that provides a discussion of the various types of insured annuities available to individuals and their potential uses, as…
Issue Brief
Lifetime Income Risk Joint Committee Releases Issue Brief on Qualifying Longevity Annuity Contracts
The Academy’s Lifetime Income Risk Joint Committee released an issue brief providing a discussion of Qualifying Longevity Annuity Contracts (QLACs), which are insured annuities paid out one or more…
Topics: Annuities
Issue Brief
Lifetime Income Risk Joint Committee Releases Issue Brief on Adding Annuity Options to Defined Contribution Plans
The Academy’s Lifetime Income Risk Joint Committee released an issue brief that that provides a discussion of a variety of approaches for adding annuity options to defined contribution (DC) plans…
Issue Brief
Actuarial Observations on Retiree Income Approaches
Lifetime Income Risk Joint Committee issue brief on application of actuarial methods to risk management in retirement income planning.
Issue Brief
Committee Releases Actuarial Observations on Retiree Income Approaches Issue Brief
The Lifetime Income Risk Joint Committee released an issue brief, Actuarial Observations on Retiree Income Approaches, on how actuarial methods and solutions apply to the risk management inherent to…
Issue Brief
Claim Reserve Assumption Basis for Long-Term Disability Policies
Tax Work Group issue brief on the implications of calculating tax-deductible claim reserves based on incurral date versus issue date for long-term disability insurance policies.
Issue Brief