Conference Call
Reggie Mazyck, Conductor
Thursday, September 13, 2018
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 20, 2018
CALL CANCELLED 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 27, 2018
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 4, 2018
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 11, 2018
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 18, 2018
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 1 hour

APF 2018-50
APF 2018-51
APF 2018-52
APF 2018-53
APF 2018-54
APF 2018-42
APF 2018-45

Please send comments to Reggie Mazyck by close of business on November 2, 2018.

 

2018-06 Re-Exposure
2018-46 Revised
2018-48
2018-49
2018-55

Please send comments to Reggie Mazyck by close of business on October 28, 2018.

 

2018-44 Credited Rates for Index Account in the DR Calculation

Please send comments to Reggie Mazyck by close of business on October 26, 2018.

 

2018-44
2018-17

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

 

2018-46 Re-Exposure

Please send comments to Reggie Mazyck by close of business on October 1, 2018.

 

2018-08 Removal of RBC Requirement from the Life PBR Exemption

Please send comments to Reggie Mazyck by close of business on September 21, 2018.

 

2019 GRET Recommendation

2018-45 Adjustments to Company Mortality Experience

2018-46 Definitions for "Product Group" and "term life insurance"

Please send comments to Reggie Mazyck by close of business on September 6, 2018.

APF 2017-70 Re-Exposure

Please send comments to Reggie Mazyck by close of business on July 11. 2018.

APF 2018-37-VM-20 Sect 9.C.7.b - Justification of anticipated mortality

APF 2018-39-VM-20/VM-31 - Clarify determination of materiality

Please send comments to Reggie Mazyck by close of business on July 2, 2018.

 

Academy Discussion Paper on Need for VM-20 Guidance for YRT Reinsurance Premiums

Please send comments to Reggie Mazyck by close of business on June 11, 2018.

 

APF 2018-11 Clarifying Details of the SERT

Please send comments to Reggie Mazyck by close of business on May 14, 2018.

2018-17

Please send comments to Reggie Mazyck by close of business on May 10, 2018.

APF 2018-06

Please send comments to Reggie Mazyck by close of business on May 9, 2018.

APF 2018-03 Starting Asset Language

Please send comments to Reggie Mazyck by close of business on May 3, 2018.

Academy AUW Questions & Commentary

Please send comments to Reggie Mazyck by close of business on January 29, 2018.

2017-70

2017-78

2017-70

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

Simplified Issue Report

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

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

2019 Valuation Manual
Both the redline version and the final version of the 2019 Valuation Manual are located on the Industry tab.

VM-20 / VM-22 Tables

LATF Adopted Revisions to AG 42

2018 Edition - Valuation Manual - Updated Nov. 22, 2017

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

PBR Company Pilot Project Report

Amendment Proposal Form

Generally Recognized Expense Table ("GRET"): 

Life Insurance Illustrations Model Regulation

LATF Statement on AG 38 - Nov. 1, 2011

Standard Valuation Law (No. 820)
[PDF | DOC]

Standard Nonforfeiture Law for Life Insurance (No. 808)
[PDF | DOC]

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

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