LIFE ACTUARIAL (A) TASK FORCE
Thursday, April 4, 2019 | 8:00 a.m. – 4:30 p.m.
Friday, April 5, 2019 | 8:00 – 11:00 a.m.
JW Marriott Orlando—Coquina Ballroom South—Lobby Level

Conference Call
Reggie Mazyck, Conductor
Thursday, January 24, 2019
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, January 31, 2019
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, February 7, 2019
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, February 14, 2019
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, February 21, 2019
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, February 28, 2019
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 90 Minutes


Conference Call
Reggie Mazyck, Conductor
Thursday, March 7, 2019
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 90 Minutes


Conference Call
Reggie Mazyck, Conductor
Thursday, March 14, 2019
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 90 Minutes


Conference Call
Reggie Mazyck, Conductor
Thursday, December 13, 2018
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Duration: 90 minutes



2018 Fall National Meeting
San Francisco, California
Tuesday, November 13, 2018
8:00 a.m. – 4:30 p.m.
Wednesday, November 14, 2018
8:00 – 11:00 a.m.
Parc 55 San Francisco—Cyril Magnin Ballroom—4 th Floor

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

AG 43 – Redlined May 16 Exposure

AG 43 – Clean May 16 Exposure

APF 2019‐26 – Redlined

APF 2019‐26 – Clean

APF 2019‐28 – Redline Re‐Exposure

APF 2019‐28 – Clean Re‐Exposure

APF 2019‐55 – May 16 Exposure

APF 2019‐27 – Clean

APF 2019‐27 – Redlined

Please send comments to Reggie Mazyck by close of business on June 3, 2019. 

 

APF 2018-46 – Definitions of Term Life Policy and Product Groups

APF 2019-31 – Revision of PBR Exemption

Please send comments to Reggie Mazyck by close of business on May 23, 2019. 

 

APF 2019-54 – Riders

APF 2019-53 – Clarifying Permitted Types of Smoothing

APF 2019-01 – Modify DET for conservatively reserved policies

Please send comments to Reggie Mazyck by close of business on May 30, 2019. 

 

APF 2019-28
Please send comments to Reggie Mazyck by close of business on May 14, 2019.

 

APF 2019-52 – Standard for Selecting Material Risks

APF 2019-46 – Experience Reporting Agent

Please send comments to Reggie Mazyck by close of business on May 24, 2019. 

 

APF 2019-43 – Clarify NPR Floor for Due and Deferred Prem

APF 2019-44 – PBR Report Requirements & Templates

Please send comments to Reggie Mazyck by close of business on May 16, 2019. 

 

APF 2019-47 SPA Aggregation

APF 2019-48 Edit on Borrowing Costs

APF 2019-49 VM-21 Redline - 403(b) Amendment

APF 2019-50 ACLI Comments on VA Exposures

APF 2019-51 ACLI non-material edits to VA Documents 03.29.18

APF 2019-27 Redline (VM-21) Draft Exposure 050119

Please send comments to Reggie Mazyck by close of business on May 12, 2019. 

 

2019-14 – Additional Governance Documentation

2019-23 – Documentation of Assumptions and Margins w/ Templates

Please send comments to Reggie Mazyck by close of business May 9, 2019. 

 

APF 2019-45

Please send comments to Reggie Mazyck by close of business May 14, 2019.

APF 2019-39

APF 2019-41

APF 2019-30

APF 2019-42

2019-42 Excel File

APF 2019-40

Please send comments to Reggie Mazyck by close of business May 13, 2019.

APF 2019-31

APF 2019-32

APF 2019-35

APF 2019-07

APF 2018-53

APF 2019-11

APF 2019-29

APF 2019-37

APF 2018-45

APF 2019-36

APF 2019-38

Please send comments to Reggie Mazyck by close of business on May 1, 2019.

 

APF 2019-18

APF 2019-19

APF 2019-21

APF 2019-22

APF 2019-25

Please send comments to Reggie Mazyck by close of business on April 8, 2019.

 

APF 2019-23

APF 2019-16

Please send comments to Reggie Mazyck by close of business on April 12, 2019.

 

Clean version for AG 43

Redline version for AG 43

Clean Version of APF 2019-26

Redline Version of APF 2019-26

Clean Version of APF 2019-27

Redline Version of APF 2019-27

Clean Version of APF 2019-28

Redline Version of APF 2019-28

Please send comments to Reggie Mazyck by close of business on March 28, 2019.

APF 2019-15
Please send comments to Reggie Mazyck by close of business on March 21, 2019.

APF 2019-17
APF 2019-24
Please send comments to Reggie Mazyck by close of business on March 25, 2019.

APF 2018-66
APF 2019-03
Please send comments to Reggie Mazyck by close of business on March 14, 2019.

APF 2019-04
Please send comments to Reggie Mazyck by close of business on March 7, 2019.

APF 2019-12 - Revise PIMR Language
APF 2019-13 - Guidance Note to Clarify SERT Numerator
APF 2019-14 - Revise VM-31 Section 3.B.3
Please send comments to Reggie Mazyck by close of business on March 8, 2019.


APF 2018-43
APF 2019-06
APF 2019-07
APF 2019-08
APF 2019-09
APF 2019-10
Please send comments to Reggie Mazyck by close of business on March 2, 2019.


APF 2018-60
APF 2018-44
Please send comments to Reggie Mazyck by close of business on February 18, 2019.


APF 2018-57
APF 2018-63
Please send comments to Reggie Mazyck by close of business on February 25, 2019.


APF 2018-64
APF 2018-15
APF 2018-48
APF 2018-55
APF 2019-04
APF 2019-05
Please send comments to Reggie Mazyck by close of business on February 18, 2019.


APF 2018-61
Please send comments to Reggie Mazyck by close of business on January 14, 2019.


APF 2018-42
APF 2018-62
Please send comments to Reggie Mazyck by close of business on January 31, 2019.


APF 2018-59
Please send comments to Reggie Mazyck by close of business on January 31, 2019 .


APF 2018-41 Revise VM-01 Definitions
APF 2018-53 Clarify Alternative Investment Asset Strategy
Please send comments to Reggie Mazyck by close of business on January 3, 2019.


APF 2018-56 Allow Negative Reserve Credit
APF 2018-58 VM-20 YR Reinsurance
PBR YRT Proposal - Examples Nov 2018
Please send comments to Reggie Mazyck by close of business on January 31, 2019.


APF 2018-45
Please send comments to Reggie Mazyck by close of business on November 2, 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 .

 

Academy AUW Questions & Commentary
Please send comments to Reggie Mazyck by close of business on January 29, 2018.


2017-78
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

 

2019 Charges

Ongoing Support of NAIC Programs, Products and Services

  1. The Life Actuarial (A) Task Force will:
    1. Work to keep reserve, reporting, and other actuarial-related requirements current. This includes principle-based reserving (PBR) and other requirements in the Valuation Manual, actuarial guidelines, and recommendations for appropriate actuarial reporting in blanks. Respond to charges from the Life Insurance and Annuities (A) Committee and to referrals from other groups or committees as appropriate.
    2. Report progress on all work 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. This work includes the following:
      1. Work with the American Academy of Actuaries (Academy) and the Society of Actuaries (SOA) to develop new mortality tables for valuation and minimum nonforfeiture requirements for simplified issue forms of life insurance.
      2. Provide recommendations for guidance and requirements for accelerated underwriting, as needed.
      3. Evaluate and provide recommendations regarding the VM-21/AG 43 Standard Projection Amount, which may include continuing as a required floor or providing as disclosure. This evaluation is to be completed during the three years after implementation of the Variable Annuities Framework.
      4. Monitor the work of the Variable Annuity Issues (E) Working Group, and work with any recommendations from the Variable Annuities Capital and Reserve (E/A) Subgroup to implement changes to Actuarial Guideline XLIII—CARVM for Variable Annuities (AG 43) and VM-21, Requirements for Principle-Based Reserves for Variable Annuities.
      5. Work with the SOA on the annual development of the Generally Recognized Expense Table (GRET) factors.
      6. 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.
      7. Monitor international developments regarding life and health insurance reserving, capital and related topics. Compare and benchmark with PBR requirements.
  2. The Variable Annuities Capital and Reserve (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 to C-3 Phase II, Actuarial Guideline XLIII–CARVM for Variable Annuities (AG 43) and VM-21, Requirements for Principle-Based Reserves for Variable Annuities, that implement the Variable Annuities Framework. Target completion is for Jan. 1, 2020, implementation.
    2. Develop and recommend changes to improve accuracy and clarity of variable annuity (VA) capital and reserve requirements.

Note: The Financial Condition (E) Committee will be asked to consider a name change for the Subgroup. Once the change has been completed, these charges will be updated to reflect the new name.

  1. The Experience Reporting (A) Subgroup will:
    1. Continue development of the experience reporting requirements within the Valuation Manual . Provide input, as appropriate, for the process regarding the experience reporting agent, data collection, and subsequent analysis and use of experience submitted.
  2. 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.
  3. 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.
  4. 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