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NAIC Actuarial Panels Work on Annuity, Life and Disability Tables

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The Life Actuarial Task Force and the Health Actuarial Task Force are forging ahead with several actuarial table updates.

The panels have been meeting in Austin, Texas, for sessions at the spring meeting of the National Association of Insurance Commissioners (NAIC), Kansas City, Mo.

The life task force has been following efforts by the Society of Actuaries (SOA), Schaumburg, Ill., and the American Academy of Actuaries (AAA), Washington, to develop several new tables.

Members of the life task force reviewed a report on a new SOA/AAA payout annuity mortality table, and they decided to release a basic table and related documents for comment, officials say.

The task force also received a report on SOA/AAA interest in developing mortality tables for preneed, simplified issue and guaranteed issue insurance.

Members of the health task force agreed to ask the AAA to develop a valuation table to replace the 1987 Commissioners’ Group Disability Table.

The new AAA table would be based on the 2008 Group Long-Term Disability Experience Table, officials say.

- Allison Bell

Other NAIC actuarial task force coverage from National Underwriter Life & Health: