Life and Health Actuarial Task Force
Life and Health Actuarial Task Force Page
Fall 2009 Meeting Summaries Index

The Life and Health Actuarial Task Force met Sept. 21, 2009.During this meeting, the Task Force:

• Discussed the appropriate experience mortality tables and the margins on those mortality tables for the principle-based reserving system and for a net premium reserve system.

• Discussed several issues in the development of a new valuation mortality table for payout annuities.

• Discussed a presentation of the American Academy of Actuaries’ Economic Scenarios Work Group regarding the supporting statistics and supporting analysis of the generator to produce interest rate scenarios.

• Discussed a presentation by the American Council of Life Insurers regarding an additional net premium reserve methodology for VM-20, the section of the Valuation Manual for life insurance products.
  
• Received reports from the Accident and Health Working Group and adopted the recommended charges for the Working Group.
  
• Decided to continue the Task Force’s 2009 charges for 2010 and added a charge to review some aspects of the Standard Nonforfeiture Law for Individual Deferred Annuities (#805).
  
• Discussed the requirements of VM-50, the section of the Valuation Manual regarding the collection of experience data.

• Adopted amendments to Actuarial Guideline XXXIII—Determining CARVM Reserves for Annuity Contracts with Elective Benefits.
  
• Received reports from subgroups on various portions of the Valuation Manual. VM-00 was amended and released for comment.