The standard valuation law developed by National Association of Insurance Commissioners serves as an example states can emulate when setting standards for calculating life insurance reserves.
Proponents see it as step toward establishing a principles-based reserving system.
Some interests in NAIC panels are working to approve a newly amended SVL, but others oppose the amendments.
Outside the NAIC, the American Academy of Actuaries, Washington, is supports the revision, while the American Council of Life Insurers, Washington, wants other changes.
If the full NAIC approves the SVL amendments, it will be up to legislators and regulators in individual states to implement the SVL changes.