Summary |
The fourth edition of this book is being published at a time when valuations of individual life and annuity liabilities under statutory accounting principles are undergoing a significant shift from “formula-based” to “principle-based.” Give the complexity of the types of products sold by the life insurance industry, this is a necessary and important change. However, it is a complex undertaking and will require a significant amount of education and training. Part of this education is an understanding of the “old” and the “new” methods. This is a primary goal of this book.
Chapter 1 Overview of valuation requirements
Chapter 2 NAIC annual statement
Chapter 3 The Valuation process
Chapter 4 Valuation Assumptions
Chapter 5 Valuation Methodologies and Approximations
Chapter 6 Whole Life
Chapter 7 Term Life Insurance
Chapter 8 Universal Life Insurance
Chapter 9 Variable Life Insurance
Chapter 10 Deferred Annuities
Chapter 11 Immediate Annuities
Chapter 12 Miscellaneous Reserves
Chapter 13 Cash Flow Testing
Chapter 14 The Valuation Actuary in Canada
Chapter 15 The Valuation Actuary in the United States
Chapter 16 Risk-Based capital
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