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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.
2012 Charges
The mission of the Life Actuarial (A) Task Force is to identify, investigate and develop solutions to actuarial problems in the life insurance industry.
Ongoing Maintenance of NAIC Programs, Products, or Services
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Study the feasibility of a new nonforfeiture law for life insurance and annuities to replace the existing nonforfeiture standards. Provide periodic status reports on this project. —Important
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Work with the American Academy of Actuaries and the Society of Actuaries to develop new mortality tables for the valuation of pay out annuities, for preneed, simplified issue and guaranteed issue forms of life insurance and minimum nonforfeiture requirements for life insurance. Provide periodic status reports on this project. —Important
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Work with the Society of Actuaries to develop the reporting of channels of distribution information needed to better establish GRET factors. —Important
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Review Actuarial Guideline XLIII, CARVM for Variable Annuities, and recommend changes to the requirements. —Important
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Review Actuarial Guideline XXXVIII, The Application of the Valuation of Life Insurance Policies Model Regulation, and recommend changes to the requirements. — Important
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Develop and submit proposals to facilitate the implementation of a principles-based approach to valuation. Monitor international developments regarding life and health insurance reserving. Provide periodic reports on this project. —Essential
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Provide assistance and commentary to other NAIC committees relative to their work on actuarial matters. —Important
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