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September 05, 2011 at 08:00 PM
An American Academy of Actuaries (AAA) work group could have a long-term disability (LTD) insurance valuation table proposal ready for review by March 2012.
The AAA, Washington, briefed the Health Actuarial Task Force of the National Association of Insurance Commissioners (NAIC), Kansas City, Mo., on the valuation table effort during a recent task force conference call.
The Society of Actuaries (SOA), Schaumburg, Ill., paved the way for the valuation table project by using a database of 1 million LTD claims to produce a 10-year LTD claim termination experience report in 2009.
The Health Actuarial Task Force now wants the AAA to use the 2009 SOA report to create a valuation table that would replace the 1987 Commissioners Group Disability Table.
