Life and Health Actuarial Task Force
Life Insurance and Annuities (A) Committee
Health Insurance and Managed Care (B) Committee

Mission

The mission of the Life and Health Actuarial Task Force is to identify, investigate and develop solutions to actuarial problems in the life and health insurance industry.

The following groups report to the Life and Health Actuarial Task Force:

• Accident and Health Working Group

2010 Charges

Ongoing Maintenance of NAIC Programs, Products, or Services

1. The Life and Health Actuarial Task Force will study the feasibility of a new nonforfeiture law for life insurance and annuities to replace the existing nonforfeiture standards. Provide status reports on this project at each national meeting—Important
2. The Task Force will work with the American Academy of Actuaries and the Society of Actuaries to develop a new mortality table for the valuation of payout annuities. Provide status reports on this project at each national meeting—Important
3. The Accident and Health Working Group will work with the Society of Actuaries to develop a replacement for the 1985 NAIC Cancer Claim Cost Tables as the basis for the valuation of individual cancer policies. Provide status reports on this project at each national meeting—Important
4. The Task Force will consider changes to Blanks to include the reporting of channels of distribution information needed to better establish GRET factors—Important
5. The Task Force will work with other NAIC committees to recommend any changes required to implement the new reserve requirements for variable annuities. Consider a practice note or white paper for guidance on the credit for hedging in these new requirements—Important
6. The Task Force will review AG XXV relative to IRC 7702 and recommend changes, if needed, to address issues with the current levels of preneed insurance—Important
7. The Working Group will revise model rules for appropriate long-term care rates, rating practices, and rate changes including a review of closed block of business—Important
8. The Working Group will review the Medicare supplement refund formula and revise the Appendix A in the Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards Model Act (#651), as necessary—Important
9. The Task Force will review certain aspects of the Standard Nonforfeiture Law for Individual Deferred Annuities (#805)—Important
10. The Working Group will review and update the Guidelines for filing of Rates for Individual Health Insurance Forms (#134)—Important
11. The Working Group will work with the Society of Actuaries and the American Academy of Actuaries to develop a replacement for the 1987 Commissioners Group Disability Income Table—Important
12. The Task Force will work on implementation of tables necessary for use in current valuation requirements—Important
13. The Task Force and Working Group will provide assistance and commentary to other NAIC committees relative to their work on actuarial matters—Important

New Objectives and Goals (representing new NAIC programs or initiatives)

1. The Life and Health Actuarial Task Force will develop and submit proposals to facilitate the implementation of a principles-based approach to valuation. Monitor international developments regarding life and health insurance reserving. Provide reports on this project at each national meeting—Essential
2. The Task Force will work with the American Academy of Actuaries and the Society of Actuaries to develop new valuation and nonforfeiture mortality tables for life insurance. Provide reports on this project at each national meeting—Essential
3. The Working Group will study the minimum standards applicable to statutory reserves for long-term care insurance. Begin developing a principles-based framework for a set of minimum standards—Important
4. The Task Force will review and make recommendations on rules for appropriate reserve mortality tables for simplified issue and guaranteed issue forms of life insurance. Review a revised structure for regulating these forms of life insurance to establish it as a class distinct from industrial and ordinary lines—Important