This text focuses on the life cycle of individual life and annuity contracts and the links among the various types of values that are associated with these contracts.
For the student, it illustrates the relationships that exist among premiums, cash values, reserves, dividends and other non-guaranteed elements when designing individual products. It is thus a valuable supplemental reference for SOA fellowship study in the Individual Insurance specialty.
For the experienced actuary, this text provides a comprehensive summary of current actuarial practice in the design, pricing and daily maintenance of individual products.
This second edition has been updated for the industry changes that have occurred since 1999. A CD ROM with spreadsheets to demonstrate profit testing alternatives is also included with the second edition.
This text is listed on the Course of Reading for the Society of Actuaries Fundamentals of Actuarial Practice course.
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Inside This Book
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First Sentence:
In its simplest form, an insurance policy is a contract between two parties. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
exposure draft, collateral obligations, asset share method, asset adequacy analysis, contingent surrender charges, select mortality factors, indexed universal life insurance policies, valuation mortality table, active life reserve, future guaranteed benefits, annuity actuary, net level premium reserve, functional cost study, valuation net premium, macro pricing, nonforfeiture values, modal premiums, level premium reserves, standard nonforfeiture law, appointed actuary, terminal dividends, nonforfeiture benefits, statutory profits, deficiency reserves, actuarial guidelines Key Phrases - Capitalized Phrases (CAPs): (learn more)
Monthly Summary, Actuarial Guideline, Value Added, American Academy of Actuaries, Actuarial Standards of Practice, New York, Model Regulation, Standard of Practice, Society of Actuaries, Regulatory Reserve Requirements, International Financial Reporting Standards, Profit Testing Examples, Disciplined Current Scale, Adm Code, Opinion Regulation, Types of Contracts, Annuity Reserve Valuation Method, Canadian Institute of Actuaries, Percent of Premium, Valuation Actuary, Mutual Life Insurance Companies, Sales Support, Acquisition Maintenance Per Policy, International Actuarial Association, Guaranteed Minimum Death Benefit Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
In its simplest form, an insurance policy is a contract between two parties. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
exposure draft, collateral obligations, asset share method, asset adequacy analysis, contingent surrender charges, select mortality factors, indexed universal life insurance policies, valuation mortality table, active life reserve, future guaranteed benefits, annuity actuary, net level premium reserve, functional cost study, valuation net premium, macro pricing, nonforfeiture values, modal premiums, level premium reserves, standard nonforfeiture law, appointed actuary, terminal dividends, nonforfeiture benefits, statutory profits, deficiency reserves, actuarial guidelines Key Phrases - Capitalized Phrases (CAPs): (learn more)
Monthly Summary, Actuarial Guideline, Value Added, American Academy of Actuaries, Actuarial Standards of Practice, New York, Model Regulation, Standard of Practice, Society of Actuaries, Regulatory Reserve Requirements, International Financial Reporting Standards, Profit Testing Examples, Disciplined Current Scale, Adm Code, Opinion Regulation, Types of Contracts, Annuity Reserve Valuation Method, Canadian Institute of Actuaries, Percent of Premium, Valuation Actuary, Mutual Life Insurance Companies, Sales Support, Acquisition Maintenance Per Policy, International Actuarial Association, Guaranteed Minimum Death Benefit Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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