2017 Fall National Meeting
Honolulu, Hawaii
Life Actuarial (A) Task Force
Thursday, November 30, 2017
7:00 a.m. - 3:30 p.m.
Friday, December 1, 2017
7:00 - 9:00 a.m.
Hilton Hawaiian Village and Hawaii Convention Center
Coral Ballroom 1-2 - Mid Pacific Conference Center-6th Floor

Conference Call
Reggie Mazyck, Conductor
Thursday, November 9, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 pm. CT/ 2:00 p.m. ET
Duration: 1 hour

Conference Call
Reggie Mazyck, Conductor
Thursday, November 2, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour

Conference Call
Reggie Mazyck, Conductor
Thursday, October 26, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour
CALL CANCELED

Conference Call
Reggie Mazyck, Conductor
Thursday, October 19, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour

Conference Call
Reggie Mazyck, Conductor
Thursday, October 12, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour
CALL CANCELED

Conference Call
Reggie Mazyck, Conductor
Thursday, October 5, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour

Conference Call
Reggie Mazyck, Conductor
Thursday, September 28, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET

Conference Call
Reggie Mazyck, Conductor
Thursday, September 21, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET

Conference Call
Reggie Mazyck, Conductor
Thursday, September 14, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour

Conference Call
Reggie Mazyck, Conductor
Thursday, August 24, 2017
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET

APF 2017-81 VM-50 Draft Edits

Please send comments to Reggie Mazyck by close of business on January 12, 2018.

Correction to VM-20

Please send comments to Reggie Mazyck by close of business on November 8, 2017.

2017-60 Third Exposure

Please send comments to Reggie Mazyck by close of business on October 31, 2017.

2017-70

Please send comments to Reggie Mazyck by close of business on November 16, 2017.

2017-74

2017-57

Please send comments to Reggie Mazyck by close of business on November 8, 2017.

09-30 Proposed Spreads

09-30 Cover Letter

Please send comments to Reggie Mazyck by close of business on November 1, 2017.

2017-60 Re-Exposure

Please send comments to Reggie Mazyck by close of business on October 16, 2017

2017-69

Please send comments to Reggie Mazyck by close of business on October 23, 2017.

GI Reports and Tables

Please send comments to Reggie Mazyck by close of business on October 2, 2017.

2017-65

2017-68

Please send comments to Reggie Mazyck by close of business on October 5, 2017.

2017-67

Please send comments to Reggie Mazyck by close of business on September 24, 2017.

Memo to LATF AUW POG Data Elements

Please send comments to Reggie Mazyck by close of business on November 7, 2017.

VM Questions and Responses

Comments should include recommendations on a suitable place for housing the Question and Response document. Please send comments to Reggie Mazyck by close of business on Oct. 7, 2017.

APF 2017-63

Please send comments to Reggie Mazyck by close of business on October 2, 2017.

Simplified Issue Report

Please send comments to Reggie Mazyck by close of business on September 21, 2017.

APF 2017-61

2018 GRET Recommendation Letter

Please send comments to Reggie Mazyck by close of business on September 7, 2017.

APF 2017-14

APF 2017-45

APF 2017-50

APF 2017-55

APF 2017-60

APF 2017-62

Please send comments to Reggie Mazyck by close of business on August 29, 2017.

 

PBR Questions for LATF Consideration - Revised 2/2/17
Please send comments to Reggie Mazyck by close of business on March 10, 2017.

 2018 Edition - Valuation Manual

PBR Education

SOA PBR Durable Education Component for NPR

PBR Training Inventory Table

Valuation Manual Versions

The VM with changes through 12/31/16 is the current version. It differs from the 8/29/16 version only in that typos and reference errors found in the 8/29/16 version have been corrected. All reference corrections are captured in the Errata.

VM-20 Investment Spread Data

03-2017 VM-20 Spreads Cover Letter

2014 VM-20 Default Costs

2015 VM-20 Default Costs

2016 VM-20 Default Costs

SOA 2017 CSO Tables

Base Tables:
2015 VBT Unismoke ANB/ALB Tables
2015 VBT Smoker-Distinct ANB/ALB 
Tables

Relative Risk Tables:
2015 VBT Male Non-Smoker RR ANB 
Tables 

2015 VBT Female Non-Smoker RR ANB Tables 
2015 VBT Male Non-Smoker RR ALB 
Tables 

2015 VBT Female Non-Smoker RR ALB 
Tables 

2015 VBT Male Smoker RR ANB Tables
2015 VBT Female Smoker RR ANB Tables
2015 VBT Male Smoker RR ALB Tables
2015 VBT Female Smoker RR ALB Tables

 

FAQ on Qualifications and PBR

Report on the Results of the Principle - Based Reserving State Resource Survey

VM-20 Impact Study – Towers Watson

Amendment Proposal Form

Generally Recognized Expense Table ("GRET"): 

Life Insurance Illustrations Model Regulation

Related NAIC Publications

Contacts

Life Actuarial (A) Task Force

 

Mission

The mission of the Life Actuarial (A) Task Force is to identify, investigate and develop solutions to actuarial problems in the life insurance industry

2017 Charges
The Life Actuarial (A) Task Force will:

NAIC Support Staff: Reggie Mazyck/Eric King


2018 Charges

Ongoing Support of NAIC Programs, Products and Services

  1. The Life Actuarial (A) Task Force will:
    1. Address charges to the Task Force as provided in the Principle-Based Reserving (PBR) Implementation Plan adopted by the Principle-Based Reserving Implementation (EX) Task Force. These charges include Valuation Manual and PBR work expected by the Life Insurance and Annuities (A) Committee. Report progress to the Principle-Based Reserving Implementation (EX) Task Force and to the Life Insurance and Annuities (A) Committee.
    2. Report progress on non-PBR related charges to the Life Insurance and Annuities (A) Committee and provide updates to the Financial Condition (E) Committee on matters related to life insurance company solvency.
    3. Respond to requests/referrals from the Life Insurance and Annuities (A) Committee regarding reserves or other requirements relating to current or new product lines.
    4. Monitor international developments regarding life and health insurance reserving, capital and related topics. Compare and benchmark with PBR requirements.
    5. Work with the American Academy of Actuaries (Academy) and the Society of Actuaries (SOA) to develop new mortality tables for simplified issue and guaranteed issue forms of life insurance and minimum nonforfeiture requirements for life insurance. Work includes consideration of any guidance / requirements for accelerated underwriting. Provide periodic status reports on this project.
    6. Monitor the work of the Variable Annuity Issues (E) Working Group and work with any recommendations from the C-3 Phase II/AG 43 (E/A) Subgroup to implement changes to Actuarial Guideline XLIII-CARVM for Variable Annuities (AG 43) and VM-21.
    7. Work with the SOA to continue development of reporting channels of distribution information needed to better establish Generally Recognized Expense Table (GRET) factors.
    8. Address approvals from the Life Insurance and Annuities (A) Committee regarding its requests to work on model requirements.
    9. Provide recommendations and changes, as appropriate, to other reserve and nonforfeiture requirements to address issues, and provide actuarial assistance and commentary to other NAIC committees relative to their work on actuarial matters.
  2. The C-3 Phase II/AG 43 (E/A) Subgroup, a joint subgroup of the Life Risk-Based Capital (E) Working Group and the Life Actuarial (A) Task Force, will:
    1. Develop and recommend changes for 2018 adoption that implement the Variable Annuity Framework based on recommendations from the Variable Annuity Issues (E) Working Group.
  3. The Experience Reporting (A) Subgroup will:
    1. Continue development of the experience reporting requirements within the Valuation Manual and provide input, as appropriate, for the process regarding the statistical agent, data collection and subsequent analysis and use of experience submitted.
  4. The IUL Illustration (A) Subgroup will:
    1. Consider enhancements to Actuarial Guideline XLIX-The Application of the Life Illustrations Model Regulation to Policies with Indexed-based Interest (AG 49). Provide recommendations for modifications to AG 49 to the Life Actuarial (A) Task Force.
  5. The Longevity Risk (A/E) Subgroup, a joint subgroup of the Life Actuarial (A) Task Force and the Life Risk-Based Capital (E) Working Group, will:
    1. Provide recommendations for recognizing longevity risk in statutory reserves and/or risk-based capital (RBC), as appropriate.
  6. The VM-22 (A) Subgroup will:
    1. Consider a PBR methodology and recommend appropriate requirements for non-variable (fixed) annuities in the accumulation phase for consideration by the Life Actuarial (A) Task Force.

NAIC Support Staff: Reggie Mazyck/Eric King