Valuation of Life Insurance Liabilities: Establishing Reserves for Life Insurance Policies and Annuity Contracts |
Common terms and phrases
Actuarial Guideline Actuarial Standard adjustment annuitization benefits annuity contract assumed assumptions basic reserve benefit streams bond calculated CARVM cash flow testing cash surrender value cash value Chapter Commissioners Reserve Valuation cost of insurance credited interest rate deferred annuity deferred premium deficiency reserves determined duration expense allowance fund value GAAP gross premium gross premium valuation Guaranteed Maturity Fund Guaranteed Maturity Premiums immediate annuities income insurance company Interest Rate Risk investment issue date lapse rate level premium mean reserve minimum death benefit Mortality Table NAIC partial withdrawals policy extract policy reserve policyholder present value PVFW RBC factors Reinsurance Reserve Valuation Method risk Risk-Based Capital scenarios segment separate account single premium specified Standard Valuation Law Standards of Practice statutory accounting principles statutory reserve statutory valuation surplus surrender charge term term life insurance terminal reserve universal life insurance valuation actuary valuation date valuation interest rate variable life insurance workbook worksheet