Description: AG 49 pertains to illustrated life insurance products with a crediting rate tied to an index. The guideline discusses the maximum illustrated credited rate and format changes to illustrations.

Description: in the insurance industry, machine learning models are increasingly used to make decisions that affect people's lives. In order to ensure that models are fair, they should be audited for bias. There are no hard and fast rules for bias audit; metrics that can be used to evaluate fairness vary depending on the context in which the model is deployed. The presenters in this session present a flexible framework that highlights key considerations in bias evaluation that can be adjusted to suit your process.

Description: Summary of recent changes to IRS Section 7702 Interest Rates, and how it will impact the design of life insurance products in the future.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: Reworking The ABC’s of XYZ by Tom Kalmbach from Small Talk Newsletter, November 2002, Issue No. 19.

Description: This article asks the question, Is It appropriate to underwrite changes to UL death benefit options?

Description: This article reviews the topics discussed at the December 2004 meeting of the Life and Health Actuarial task force. The covered topics include Actuarial Guideline 38 and Reserves for Variable Annuities C-3 Phase 2 reserves.

Description: This article provides a summary of the results from a recent Milliman survey. Survey results provide UL/IUL carriers with a benchmark to evaluate their practices relative to those prevalent in the industry.

Description: This article examines potential impacts of old age mortality and how it affects maturity extension riders for universal life.

Description: Universal Life, No-Lapse, and the Law vs. Free Markets by David J. Hippen from The Financial Reporter, March 2001, Issue No. 45.