Life and Health Actuarial Task Force
Life Insurance and Annuities (A) Committee
Health Insurance and Managed Care (B) Committee

Mission

The mission of the Life and Health Actuarial Task Force is to identify, investigate and develop solutions to actuarial problems in the life and health insurance industry.

The following groups report to the Life and Health Actuarial Task Force:

• Accident and Health Working Group

2008 Charges:
Ongoing Support of NAIC Programs, Products, or Services:

1. Study the feasibility of a new nonforfeiture law for life insurance and annuities to replace the existing nonforfeiture standards. Provide quarterly status reports on this project. (Important )
2. Work with the Society of Actuaries to develop a new mortality table for the valuation of individual annuities. Provide quarterly status reports on this project. (Important)
3. Reappoint the Accident and Health Working Group to work with the Society of Actuaries to develop a replacement for the 1985 NAIC Cancer Claim Cost Tables as the basis for the valuation of individual cancer policies. Provide quarterly status reports on this project. (Important)
4. Recommend changes to Blanks to include the reporting of channels of distribution information needed to better establish GRET factors. (Important)
5. Review AG XXV relative to IRC 7702 and recommend changes, if needed, to address issues with the current levels of preneed insurance. (Important)
6. Reappoint the Accident and Health Working Group to revise model rules for appropriate long-term care rates, rating practices, and rate changes. (Important)
7. Reappoint the Accident and Health Working Group to clarify the rules and instructions for the actuarial opinion and memorandum as applicable to accident and health insurance and the A&H Blank. (Important)
8. Reappoint the Accident and Health Working Group to review the Medicare supplement refund formula and revise the Appendix in the Medicare model regulation, as necessary. (Important)
9. Work on implementation of tables necessary for use in current valuation requirements. (Important)
10. The Task Force and Accident and Health Working Group will provide assistance and commentary to other NAIC committees relative to their work on actuarial matters. (Important)

New Objectives and Goals (representing new NAIC programs, services, or initiatives):

1. Develop and submit proposals to facilitate the implementation of a principles-based approach to valuation. Provide quarterly reports on this project. (Essential)
2. Develop new reserve requirements for variable annuities with guarantees, including the development of an actuarial guideline. Complete work by the Spring National Meeting. (Essential)
3. Work with the Society of Actuaries to develop new valuation and nonforfeiture mortality tables for life insurance. Provide quarterly reports on this project. (Essential)
4. Evaluate and propose a model statute, if appropriate, that would allow life insurance companies to loan against death benefits instead of the cash value of a policy. (Important)
5. Reappoint the Accident and Health Working Group to study the minimum standards applicable to statutory reserves for long-term care insurance. Begin developing a principles-based framework for a set of minimum standards. Provide quarterly reports on this project. (Important)
6. Review and make recommendations on rules for appropriate reserve mortality tables for simplified issue and guaranteed issue forms of life insurance. Review and recommend, if appropriate, a revised structure for regulating these forms of life insurance to establish it as a class distinct from industrial and ordinary lines. (Important)