Committees & Activities

Life Actuarial (A) Task Force
Life Insurance and Annuities (A) Committee

C-3 Phase II/AG 43 (E/A) Subgroup
Contingent Deferred Annuity (A) Subgroup
Experience Reporting (A) Subgroup
Index-Linked Variable Annuity (A) Subgroup
IUL Illustration (A) Subgroup
Longevity Risk (A/E) Subgroup

VM–22 (A) Subgroup

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

2016 Charges

Ongoing Maintenance of NAIC Programs, Products and Services:

The Life Actuarial (A) Task Force will:

  • 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, including consideration of the VM-22 (A) Subgroup efforts to pose a PBR methodology for non-variable (fixed) annuities. Report progress to the Principle-Based Reserving Implementation (EX) Task Force and to the Life Insurance and Annuities (A) Committee.—Essential

  • 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.—Essential

  • Respond to requests/referrals from the Life Insurance and Annuities (A) Committee regarding reserves or other requirements relating to current or new product lines.—Essential

  • Monitor international developments regarding life and health insurance reserving, capital and related topics. Compare and benchmark with PBR requirements.—Important

  • Work with the American Academy of Actuaries (Academy) and the Society of Actuaries (SOA) to develop a new Valuation Basic Table and a new Commissioners Standard Ordinary Mortality Table, including tables 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

  • Review Actuarial Guideline XLIII—CARVM for Variable Annuities (AG 43) and recommend changes, as appropriate, to the requirements. Work with any recommendations from the C-3 Phase II/AG 43 (E/A) Subgroup. —Essential
  • 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

  • Work with the SOA to continue development of reporting channels of distribution information needed to better establish Generally Recognized Expense Table (GRET) factors.—Important

  • Address approvals from the Life Insurance and Annuities (A) Committee regarding its requests to work on model requirements.—Important

  • 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.—Important

NAIC Support Staff: Reggie Mazyck/Eric King

 

Conference Call Calendar

NAIC conference calls & interim meetings are available on the NAIC Conference Call Calendar. See NAIC's revised policy statement on open meetings.

Life Actuarial (A) Task Force
Conference Calls
Reggie Mazyck, Conductor
Thursday, May 5, 2016
1:00 p.m. - 2:00 p.m. CT

Life Actuarial (A) Task Force
Conference Calls
Reggie Mazyck, Conductor
Thursday, May 12, 2016
1:00 p.m. - 2:00 p.m. CT

Life Actuarial (A) Task Force
Conference Calls
Reggie Mazyck, Conductor
Thursday, May 19, 2016
1:00 p.m. - 2:00 p.m. CT

Life Actuarial (A) Task Force
Conference Calls
Reggie Mazyck, Conductor
Thursday, May 26, 2016
1:00 p.m. - 2:00 p.m. CT

There are no education and training events at this time.

Go to the exposure draft index.

MN APF to Modify Term Profits
Please send comments to Reggie Mazyck by close of business on Wednesday, May 18, 2016.

NPR Requirements
Exposed through May 16, 2016. Send comments to Reggie Mazyck

Modifications to the Deterministic Reserve Exclusion Test
Exposed through May 16, 2016. Send comments to Reggie Mazyck

VM-30 Intent Clarification
Please send comments to Reggie Mazyck by close of business on Monday, May 9, 2016.

APF to Revise ULSG NPR 032816
Please send comments to Reggie Mazyck by close of business on Monday, May 9, 2016.

APR to Revise ERM Documentation
Please send comments to Reggie Mazyck by close of business on Monday, May 9, 2016.

CSO VM-20 (Delete Unisex Provision)
Please send comments to Reggie Mazyck by close of business on Monday, May 9, 2016.

3-16 VM-20 Investment Spreads Template
Please send comments to Reggie Mazyck by close of business on Friday, April 22, 2016.

3-16 VM-20 Investment Spreads Cover Memo
Please send comments to Reggie Mazyck by close of business on Friday, April 22, 2016.

ACLI APF to Modify VM-G

Academy Role of the Actuary Subgroup APF for VM-G & VM-20
Please send comments to Reggie Mazyck by close of business on Sunday, May 8, 2016.

Exposure of Amendment Proposal Proposal to Keep Term and ULSG Separate to Reduce Allocation Concerns
Exposed for comment through April 25, 2016. Send comments to Reggie Mazyck.

Exposure of Amendment Proposal ACLI Modifications to Net Premium Reserve Requirements for Term Lapse Rates
Exposed for comment through April 25, 2016
Send comments to Reggie Mazyck

Exposure of Amendment Proposal
New York Life VM-20 Net Premium Reserve Proposal

Exposed for comment through April 25, 2016
Send comments to Reggie Mazyck
*

*Comments should be focused on the concepts proposed by New York Life.

Exposure of Amendment Proposal ACLI Modifications to Deterministic Reserve Exclusion Test
Exposed for comment through April 25, 2016
Send comments to Reggie Mazyck

documents and resources

VM-31 Consolidated Changes 2/25/16
All proposals or revisions to the VM-31 should use this version as a starting point.

SOA PBR Durable Education Component for NPR

PBR Training Inventory Table

Valuation Manual Versions

Amendments that have not been fully adopted by the NAIC are in track change mode.

VM-20 Investment Spread Data

Baseline Annual 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

AG 33 Proposed Edits:

FAQ on Qualifications and PBR
AAA AG33 Letter and Non-Elective Benefits Proposal-Exposed through close of business 9/16/14
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"):

The report of the Society of Actuaries (SOA) Committee on Life Insurance Company Expenses regarding the 2014 2015 GRET Factors was adopted by the NAIC Executive Committee/Plenary at the 2014 Fall National Meeting.

These factors will become the new GRET standard as of Jan. 1, 2015 to 2016.

Life Insurance Illustrations Model Regulation
Related NAIC Publications

Draft meeting minutes are available free for meeting attendees 10 business days after a national meeting concludes, using the User ID and Password supplied by the NAIC. Regulators may access minutes via StateNet.
Final committee minutes and Proceedings of the NAIC are available to non–attendees, after adoption at the next national meeting, for free in the PDF format through the NAIC Products & Services website.

Annual and Quarterly Statement Blanks

Annual and Quarterly Statement Instructions
Compendium of State Laws on Insurance Topics
Life and Health Actuarial Subscription
Model Laws, Regulations and Guidelines
Contacts
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org.
Reggie Mazyck
Life Actuary
Phone: 202-471-3991
Please see the current Committee List for a complete list of committee members.