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

2009 Charges:
Ongoing Maintenance of NAIC Programs, Products, or Services

1. Study the feasibility of a new nonforfeiture law for life insurance and annuities to replace the existing nonforfeiture standards. Provide quarterly status reports on this project—Important
2. Work with the American Academy of Actuaries and the Society of Actuaries to develop a new mortality table for the valuation of pay out annuities. Provide quarterly status reports on this project—Important
3. Work with the American Academy of Actuaries and 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 quarterly status reports on this project—Important
4. Consider changes to Blanks to include the reporting of channels of distribution information needed to better establish GRET factors—Important
5. 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. Review AG XXV relative to IRC 7702 and recommend changes, if needed, to address issues with the current levels of preneed insurance—Important
7. Revise model rules for appropriate long-term care rates, rating practices, and rate changes including a review of closed block of business—Important
8. Review the Medicare supplement refund formula and revise the Appendix in the Medicare model regulation, as necessary—Important
9. Review the Medicare Compliance Manual to include new Medicare Supplement plans which will be effective in 2010—Important
10. Work on implementation of tables necessary for use in current valuation requirements—Important
11. Provide assistance and commentary to other NAIC committees relative to their work on actuarial matter—Important

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

1. 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 quarterly reports on this project—Essential
2. Work with the Society of Actuaries to develop new valuation and nonforfeiture mortality tables for life insurance. Provide quarterly reports on this project—Essential
3. 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. 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