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
NAIC Report
LPC Updates LATF at NAIC Summer Meeting
The Life Practice Council (LPC) gave an update on its activities to the NAIC’s Life Actuarial (A) Task Force (LATF) at NAIC’s Summer National Meeting in Minneapolis.
Topics: Life
NAIC Report
LPC Presents to LATF on YRT Guarantees
The Life Practice Council presented to the NAIC’s Life Actuarial (A) Task Force (LATF) in response to a request to examine yearly renewable term (YRT) guarantees.
Topics: Life
NAIC Report
Life Reserves Work Group Presentation at NAIC Spring 2019 National Meeting
Life Reserves Work Group presentation to the Life Actuarial (A) Task Force on PBR treatment for individually underwritten group insurance.
Topics: NAIC
Comment / Letter
Work Group Comment Letter to NAIC on Exposed Questions
Life Illustrations Work Group letter addressing questions raised by the NAIC’s IUL Illustration (A) Subgroup.
Topics: NAIC
Comment / Letter
Work Group Comment Letter to NAIC on Exposed Guidance Document
RBC Tax Reform Work Group comment letter to NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the interpretation of 2018 Life Risk-Based Capital Results.
Comment / Letter
Life Experience Committee Comment Letter to NAIC on Questions Raised During NAIC Fall 2018 National Meeting
Life Experience Committee comment letter to Life Actuarial (A) Task Force on questions raised during the NAIC Fall 2018 National Meeting rearding the current process used to develop the AG38 and…
Topics: NAIC
Comment / Letter
Comment Letter on the Use of the Terms “Actuary” and “Qualified Actuary”
Role of the Actuary Subgroup comment letter to NAIC on the use of the terms “actuary” and “qualified actuary” in draft revisions to VM-21.
Topics: NAIC
Comment / Letter
Work Group Comment Letter on Life Insurance Online Guide Webpage
Non-Guaranteed Elements Work Group comment letter to NAIC on their proposal for a life insurance online guide landing page.
NAIC Report
SVL Interest Rate Modernization Update to LATF
SVL Interest Rate Modernization update to Life Actuarial (A) Task Force on modernizing valuation interest rates for all non-variable annuities.
NAIC Report
Work Group Revised APF on Aggregation of Mortality Segments
Life Reserves Work Group revised amendment proposal form on the aggregation of mortality segments for the purpose of determining credibility.
Topics: NAIC