Insurance Compact Update AICP Mid-Atlantic Chapter Education Day 2017
|
|
- Hilary Caldwell
- 6 years ago
- Views:
Transcription
1
2 Insurance Compact Update AICP Mid-Atlantic Chapter Education Day 2017 Anne Click Marie to edit Narcini, Presenter CIE, CPCU Name Regulatory Consultant - IIPRC anarcini@insurancecompact.org
3 Session Overview Updates on Product Operations Updates on Filing Guidance Updates on Uniform Standards
4 Overview of Insurance Compact Compact filings submitted through the System for Electronic Rate and Form Filing (SERFF) File one submission under one set of standards for one review and approval valid in all Compact jurisdictions No state opt-outs of individual life or annuity standards
5
6 Compacting Jurisdictions What s New Connecticut Newest Compact member Effective July 1, 2017 Effective for filings July 18, 2017 District of Columbia and New York Pending legislation
7 The IIPRC Team Karen Schutter Executive Director Becky McElduff Assistant Director of Product Operations Sara Dubsky Senior Operations Manager Ed Charbonnier Life Reviewer Mindy Bradford Life Reviewer Karen Givens Primary Annuity Reviewer Maureen Perry Primary LTC/DI Reviewer Jeanne Daharsh Actuary (Life, LTC, DI) Katie Campbell Actuary (Life & Annuities) Anne Marie Narcini Regulatory Consultant Aimee Lawson Product Filing Support Coordinator Lucy Smoucha Administrative Assistant Karla Coellner Administrative Assistant
8 Compact Filing Trends and Stats (as of May 1, 2017) 177 Companies Registered 226 Companies Registered in forms for 339 products filed 494 products approved Mix and Match level to 2016 at 50% Average approval time 27 business days* * excludes company response time to objection letters
9 Breakdown of 2016 Filings 3% 10% Life 29% 58% Annuity Disability Income Long-term Care
10 Using the Insurance Compact Website for Guidance Instructions on Associated Filings Filing Fee Schedule
11 Using the Insurance Compact Website for Guidance FINs Weekly Tip Archive
12 Using the Insurance Compact Website for Guidance Filing Information Notices Find on Home page > Filing Information Notices Insurer Resources page > Reference Materials block > Filing Information Notices
13 Using the Insurance Compact Website for Guidance FIN FIN
14 Filing Guidance: FIN FIN Filing Process to Effectuate the 2017 Commissioners Standard Ordinary (CSO) Mortality Table The Compact makes updating Compact-approved products for mortality table changes seamless through a variety of options: New Specification Pages Updated Statement of Variability Replacement pages and/or Endorsement. An updated Actuarial Memorandum is required under each of these options.
15 Filing Guidance: FIN FIN Process for Revisions to Forms and Supporting Documentation in Compact Filings: Issued 3/9, effective 4/1. Adding states, updating SOI and translation certifications still do not require Compact review fee Not changing what we have been applying. Rather, reducing our process/procedure to writing to provide consistency, uniformity and predictability for filers New Filing Type Supporting Documentation Update
16 Filing Guidance: FIN FIN Process for Revisions to Forms and Supporting Documentation in Compact Filings: Pending Filings: Objections not issued free to revise forms or submit new forms. Be mindful of fees. Objections issued revisions allowed if in response to an objection. Otherwise, revisions require amended filing fee. New forms not permitted submit as a new filing.
17 Filing Guidance: FIN FIN Process for Revisions to Forms and Supporting Documentation in Compact Filings: Closed-Approved Filings: Closed < 90 days and forms not issued or marketed: Revisions allowed by sending a Note to Reviewer requesting the filing be re-opened. Include the reason for the request and describe the revisions. Once re-opened, submit revisions in an amendment and pay amended filing fee. Closed > 90 days or forms have been issued: Submit revisions in a new filing New filing type Supporting Documentation Update
18 Filing Guidance: FIN FIN Process for Revisions to Forms and Supporting Documentation in Compact Filings: Closed-Withdrawn or Closed-Disapproved Filings always requires new filing In-Force Products call Compact office to discuss individual situation in order to best advise how to proceed
19 Filing Guidance: FIN Appendix A Flow Chart Appendix B State Fees for new filing type FAQ posted to Insurer Resources page of Insurance Compact website A Series of Weekly Tips issued in March & April provide in-depth detail on FIN
20 Filing Guidance: FIN Supporting Documentation Update Filing Type: Update material originally submitted on the Supporting Documentation tab Select TOI and sub-toi of original filing, then SDU Filing Type Associate to filing(s) being updated Provide detailed description of update in Filing Description on General Information tab NO FORMS PERMITTED ON FORM SCHEDULE TAB
21 Filing Guidance: FIN Supporting Documentation Update Filing Type Cont d: New Submission Requirements Leave Form Schedule Tab empty and confirm
22 Filing Guidance: FIN Supporting Documentation Update Filing Type Cont d: Leave Statement of Intent empty and confirm. SOI updates should be made in original filing.
23 Filing Guidance: FIN Supporting Documentation Update Filing Type, Cont d Submit Compact Product Filing Fee for new filing depending on whether uniform standards for item being updated require actuarial review. Same fee amounts as new product filing. Submit applicable state filing fees per Appendix B. State fees apply per submission only. Provide complete Statement of Variability including updated/new items Provide new certification of variability If making non-variable item variable, include approved form with complete, revised bracketing on the Supporting Documentation tab not the Form Schedule
24 Uniform Standards Update Product Standards Committee (PSC) 20 Regulators from Member States Develop and amend Uniform Standards Input from industry, consumer representatives, legislators, other regulators Uniform Standards approved by a 2/3 super majority of Member States
25 New Uniform Standards Group Disability Income Insurance Suite of Uniform Standards covering Policy Standards, Enrollment Forms, Statement of Insurability Forms, Rate Filings and Rate Changes Policyholder application for all group products that can be filed with the Compact Mix and Match: Only in combination with state-approved group life or annuity contracts if the DI rider and all DI components are filed with the Compact Standards available for filings effective 6/8/2016 FIN addresses filing requirements for Group DI Standards
26 Five-Year Review of Uniform Standards Adopted standards reviewed on a rolling five-year basis Did circumstances or underlying assumptions change since the last time the rule was amended? Substantive changes, clarification, conforming amendments, technical corrections PSC provides recommendations to Management Committee, then exposed for public comment
27 Five-Year Review of Uniform Standards Phase 6 Includes all Individual LTC Standards Substantive changes include: Dollar-for-dollar benefit riders in rate review Update Uniform Standards to most include recent changes to LTC Model Regulation Management Committee will consider adoption of revisions at a joint call of the Management Committee and Commission on 6/26
28 Five-Year Review of Uniform Standards Phase 7 Uniform Standards: Graded Death Benefits Whole Life Longevity Annuities Private Placement Deferred Variable Annuities Private Placement Variable Adjustable Life Change of Insurance Benefit Life Overloan Protection Benefit Life Comment period expired 5/22. You can view proposals on the Docket, under Amendments to Uniform Standards Public hearing June 26, 2017 Consider for adoption at Summer meeting
29 Five-Year Review of Uniform Standards Phase 8 Includes all Individual Disability Income Uniform Standards Comment period ended 3/31 Compact office preparing a report summarizing comments and proposed revisions for PSC consideration Plan to expose with Public call late June/Early July PSC discussions through Summer into Fall Goal is to have recommendations to Management Committee later in Fall Consideration of which Group DI standards should also be in idi
30 Other Items on PSC Workload June 6 Public meeting to receive comments on request by Industry Advisory Committee to amend annuity standards to address interest on death benefits You can view the materials on the Event Calendar Additional Standards for Incidental and Ancillary Benefits for Life Insurance Products in drafting stage. Anticipate exposure for public comment late June/ early July
31 Uniform Standards: How You Can Help Follow the PSC meetings; If a product doesn t have standards, let us know Consider best practices that can be incorporated into new standards Offer to assist with drafting or product education Balance consumer protections and Industry initiatives PSC Call Summaries on About the IIPRC page
32 Five-Year Review Information Amended Standards under review are found on the Docket
33 Five-Year Review Information Adopted Standards contain Standard History, including comments and redlined proposal(s)
34 Original Standards Other Amendments Link to Redlined Proposed Amendments for Five-Year Review
35 Questions? Contact Anne Marie Narcini (609) Insurance Compact (202)
Everything You Wanted To Know About the IIPRC. Karen Schutter, Executive Director Interstate Insurance Product Regulation Commission
Everything You Wanted To Know About the IIPRC Karen Schutter, Executive Director Interstate Insurance Product Regulation Commission i Overview Compact Overview Uniform Standards Development Tools for Preparing
More informationGetting Started with the Compact
Overview Structure of Individual Long-Term Care Uniform Standards Compact Filing and Review Process Types of iltc Product Filings Approved Five-Year Review of iltc Standards The IIPRC Today Getting Started
More informationIntroduction to the Individual LTC Standards of the Interstate Insurance Product Regulation Commission (IIPRC) March 2011
Introduction to the Individual LTC Standards of the Interstate Insurance Product Regulation Commission (IIPRC) March 2011 Karen Schutter, Executive Director, IIPRC Marie Roche, Assistant Vice President,
More informationIIPRC-L-08-LB-I-CoI ADDITIONAL STANDARDS FOR CHANGE OF INSURED BENEFIT. (For use with Individual Adjustable Life and Whole Life Insurance Policies)
IIPRC-L-08-LB-I-CoI ADDITIONAL STANDARDS FOR CHANGE OF INSURED BENEFIT (For use with Individual Adjustable Life and Whole Life Insurance Policies) 1. Date Adopted: March 25, 2011 2. Purpose and Scope:
More informationIIPRC-DI-G-H11-CERT CHANGE
IIPRC-DI-G-H11-CERT CHANGE UNIFORM STANDARDS FOR RIDERS, ENDORSEMENTS OR AMENDMENTS USED TO EFFECT GROUP DISABILITY INCOME INSURANCE CERTIFICATE CHANGES 1. Date Adopted: February 24, 2016 2. Purpose and
More informationIIPRC-L-08-LB-I-CoI ADDITIONAL STANDARDS FOR CHANGE OF INSURED BENEFIT (For use with Individual Adjustable Life and Whole Life Policies)
IIPRC-L-08-LB-I-CoI ADDITIONAL STANDARDS FOR CHANGE OF INSURED BENEFIT (For use with Individual Adjustable Life and Whole Life Policies) 1. Date Adopted: August 5, 2017 2. Purpose and Scope: The Additional
More informationProduct Standards Committee Explanation of Meeting Materials. October 29, 2013
Product Standards Committee Explanation of Meeting Materials October 29, 2013 To accompany the October 29 draft of Group Term Life Insurance Uniform Standards for Accelerated Death Benefits ( Group Standards
More informationMike Boerner, ASA, MAAA, Director Actuarial Office Financial Regulation Division, Texas Department of Insurance Chair: NAIC Life Actuarial (A) Task
Mike Boerner, ASA, MAAA, Director Actuarial Office Financial Regulation Division, Texas Department of Insurance Chair: NAIC Life Actuarial (A) Task Force (LATF) NAIC Valuation Analysis (E) Working Group
More informationNEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES NEW YORK, NY 10004
NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES NEW YORK, NY 10004 GUIDELINES WITH RESPECT TO PREPARING PLAN OF OPERATIONS and ACTUARIAL PROJECTIONS IN CONNECTION WITH APPLICATIONS FOR NEW YORK LICENSES
More informationFILED 11/29/2017 2:16 PM ARCHIVES DIVISION SECRETARY OF STATE
OFFICE OF THE SECRETARY OF STATE DENNIS RICHARDSON SECRETARY OF STATE LESLIE CUMMINGS DEPUTY SECRETARY OF STATE NOTICE OF PROPOSED RULEMAKING INCLUDING STATEMENT OF NEED & FISCAL IMPACT CHAPTER 441 DEPARTMENT
More informationIIPRC-A-02-I. CORE STANDARDS FOR INDIVIDUAL DEFERRED NON-VARIABLE ANNUITY CONTRACTS CHECKLIST Standards Effective Date: January 15, 2011
IIPRC-A-02-I http://insurancecompact.org/rulemaking_records/101017_indiv_deferred_nonvariable_annuity_contract.pdf CORE STANDARDS FOR INDIVIDUAL DEFERRED NON-VARIABLE ANNUITY CONTRACTS CHECKLIST Standards
More informationIIPRC-A-07-I Date Adopted: November 15, 2014
IIPRC-A-07-I-1 ADDITIONAL STANDARDS FOR INDEX-LINKED CREDITING FEATURE FOR DEFERRED NON-VARIABLE ANNUITIES AND THE GENERAL ACCOUNT PORTION OF INDIVIDUAL DEFERRED VARIABLE ANNUITY CONTRACTS 1. Date Adopted:
More informationSession 04PD: Statutory Life and Annuity Issues. Moderator: Thomas A Campbell FSA,MAAA,CERA
Session 04PD: Statutory Life and Annuity Issues Moderator: Thomas A Campbell FSA,MAAA,CERA Presenters: Donna R Claire FSA,MAAA,CERA David E Neve FSA,MAAA,CERA SOA Antitrust Disclaimer SOA Presentation
More informationIIPRC-A-07-I-3 ADDITIONAL STANDARDS FOR MARKET VALUE ADJUSTMENT FEATURE PROVIDED THROUGH A SEPARATE ACCOUNT
IIPRC-A-07-I-3 ADDITIONAL STANDARDS FOR MARKET VALUE ADJUSTMENT FEATURE PROVIDED THROUGH A SEPARATE ACCOUNT 1. Date Adopted: April 30, 2009 2. Purpose and Scope: The Additional Standards for Market Value
More informationTOI: LTC03I Individual Long Term Care Sub-TOI: LTC03I.001 Qualified
SERFF Tracking Number: MULF-126856968 State: Oregon Filing Company: John Hancock Life Insurance Company (USA) State Tracking Number: HL 0047 08, HL 0086 09, HL 0647 01, HL 0169 03, Company Tracking Number:
More informationSociety of Actuaries 2010 Health Meeting June 29, 2010
Society of Actuaries 2010 Health Meeting June 29, 2010 Presented by Monica Rutkowski 1 The purpose of this presentation is to provide a general overview of regulatory climate surrounding Long Term Care
More informationValuation Manual. Jan. 1, 2018 Edition
Valuation Manual Jan. 1, 2018 Edition The NAIC is the authoritative source for insurance industry information. Our expert solutions support the efforts of regulators, insurers and researchers by providing
More informationIIPRC-AB-02-I-GLB ADDITIONAL STANDARDS FOR GUARANTEED LIVING BENEFITS FOR INDIVIDUAL DEFERRED NON-VARIABLE ANNUITIES
IIPRC-AB-02-I-GLB ADDITIONAL STANDARDS FOR GUARANTEED LIVING BENEFITS FOR INDIVIDUAL DEFERRED NON-VARIABLE ANNUITIES 1. Date Adopted: June 29, 2016 2. Purpose and Scope: The for Individual Deferred Non-Variable
More informationIIPRC-A-03-I CORE STANDARDS FOR INDIVIDUAL DEFERRED VARIABLE ANNUITY CONTRACTS
IIPRC-A-03-I CORE STANDARDS FOR INDIVIDUAL DEFERRED VARIABLE ANNUITY CONTRACTS 1. Date Adopted: March 14, 2009 2. Purpose and Scope: The purpose of this rule is to establish reasonable uniform standards
More informationIIPRC-AB-02-I-BONUS. ADDITIONAL STANDARDS FOR BONUS BENEFITS (for Individual Deferred Non-Variable Annuities)
IIPRC-AB-02-I-BONUS ADDITIONAL STANDARDS FOR BONUS BENEFITS (for Individual Deferred Non-Variable Annuities) 1. Date Adopted: November 15, 2014 2. Purpose and Scope: The Additional Standards for Bonus
More informationSERFF Tracking #: MULF State Tracking #: Company Tracking #: CT RERATE FILING, GROUP LONG-TERM CARE I...
SERFF Tracking #: MULF-129019410 State Tracking #: 201396350 Company Tracking #: CT RERATE FILING, GROUP LONG-TERM CARE I... State: Connecticut Filing Company: John Hancock Life Insurance Company (USA)
More informationAuthorized By: Neil N. Jasey, Commissioner, Department of Banking and Insurance
INSURANCE DEPARTMENT OF BANKING AND INSURANCE OFFICE OF LIFE AND HEALTH Life/Health Annuity Forms Proposed Amendments: N.J.A.C. 11:4-40.4, 40.5 and 40A.4 Proposed Repeal: N.J.A.C. 11:4-40 Appendix Authorized
More informationSTAT 472 Fall 2016 Test 2 November 8, 2016
STAT 472 Fall 2016 Test 2 November 8, 2016 1. Anne who is (65) buys a whole life policy with a death benefit of 200,000 payable at the end of the year of death. The policy has annual premiums payable for
More informationCalifornia Implementation of the Federal Non-admitted and Reinsurance Reform Act ( NRRA ) of 2010
To: SLA Members From: Ted Pierce, Executive Director Re: California Implementation of the Federal Non-admitted and Reinsurance Reform Act ( NRRA ) of 2010 Date: June 15, 2011 This information is provided
More informationIIPRC-LTC-I-3-APPFORMS STANDARDS FOR FORMS REQUIRED TO BE USED WITH AN INDIVIDUAL LONG-TERM CARE INSURANCE APPLICATION
IIPRC-LTC-I-3-APPFORMS STANDARDS FOR FORMS REQUIRED TO BE USED WITH AN INDIVIDUAL LONG-TERM CARE INSURANCE APPLICATION 1. Date Adopted: June 26, 2017 2. Purpose and Scope: These standards apply to products
More informationChapter 13 3/2/2015. Agenda. Determining the Cost of Life Insurance 3. Buying Life Insurance
Chapter 13 Buying Life Insurance Agenda 2 Determining the Cost of Life Insurance Rate of Return on Saving Component Taxation of Life Insurance Shopping for Life Insurance Determining the Cost of Life Insurance
More informationFrequently Asked Questions (FAQ) on the Interstate Insurance Product Regulation Compact
Frequently Asked Questions (FAQ) on the Interstate Insurance Product Regulation Compact In an attempt to preserve sovereign state regulation of the nation s insurance industry, in July 2003, the Executive
More informationEnrollment of Medicaid Managed Care and Children s Health Insurance Program Providers
Enrollment of Medicaid Managed Care and Children s Health Insurance Program Providers Section 5005(b)(2) 21st Century Cures Act 2 Provider Enrollment Update Non-Enrollable Providers MMIS/MEDS Reference
More informationIIPRC-A-02-I AMENDMENT TO INDIVIDUAL DEFERRED NON-VARIABLE ANNUITY CONTRACT STANDARDS
IIPRC-A-02-I AMENDMENT TO INDIVIDUAL DEFERRED NON-VARIABLE ANNUITY CONTRACT STANDARDS 1. Date Adopted: October 17, 2010 2. Purpose and Scope: The purpose of the amendments is as described in Paragraph
More informationSTANDARDS FOR GROUP DISABILITY INCOME INSURANCE INITIAL RATE FILINGS
Date: May 2014 June 2014 STANDARDS FOR GROUP DISABILITY INCOME INSURANCE INITIAL RATE FILINGS Scope: The Standards for Initial Rate Filings for Group Disability Income Insurance shall apply to insurance
More informationAvoiding Common Filing Errors
2014 Industry Conference Navigating the Changing Insurance Environment Avoiding Common Filing Errors Life & Health Product Review Forms Staff October 30, 2014 Welcome Teresa Howell, Health Forms Analyst
More informationNON-CERTIFICATED EMPLOYEES RETIREMENT PLAN OF THE JUNIOR COLLEGE DISTRICT OF ST. LOUIS, ST. LOUIS COUNTY, MISSOURI St.
NON-CERTIFICATED EMPLOYEES RETIREMENT PLAN OF THE JUNIOR COLLEGE DISTRICT OF ST. LOUIS, St. Louis, Missouri FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION TABLE OF CONTENTS PAGE INDEPENDENT AUDITOR
More informationBill Pay - Frequently Asked Questions (FAQs)
Bill Pay - Frequently Asked Questions (FAQs) Putnam Bank Bill Payment Service Using our Bill Payment service will save you time and money. Rather than writing and mailing checks to the same biller/payee
More informationProposed: November 18, 2002 at 34 N.J.R. 3916(a). Adopted: March 6, 2003 by Holly C. Bakke, Commissioner, Department of Banking and Insurance.
INSURANCE DEPARTMENT OF BANKING AND INSURANCE DIVISION OF INSURANCE Actuarial Services 40 States File and Use Standards and Procedures Adopted New Rules: N.J.A.C. 11:4-40A Proposed: November 18, 2002 at
More informationSERFF Tracking #: PROV State Tracking #: PROV Company Tracking #: 90-DAY DISCONTINUANCE FILING_PROVIDENCE_...
SERFF Tracking #: PROV-129121711 State Tracking #: PROV-129121711 Company Tracking #: 90-DAY DISCONTINUANCE FILING_PROVIDENCE_... State: Oregon Filing Company: Providence Health Plan TOI/Sub-TOI: H06 Health
More information11/17/2009. Introduction. Outline. Principles-Based Reserving Education Session 7:30-9:00 Maryland Ballroom D. NAIC 2009 Fall National Meeting
NAIC PBA Educational Session NAIC 2009 Fall National Meeting Principles-Based Reserving Education Session 7:30-9:00 Maryland Ballroom D PRESENTERS Philip Barlow, FSA, MAAA Chair of the Life Risk Based
More informationA Technical Guide for Individuals. The Whole Story. Understanding the features and benefits of whole life insurance. Insurance Strategies
A Technical Guide for Individuals The Whole Story Understanding the features and benefits of whole life insurance Insurance Strategies Contents 1 Insurance for Your Lifetime 3 How Does Whole Life Insurance
More informationCustom GrowthCV. Universal Life Insurance for Financial Protection and Cash Accumulation. Marketing Guide
Custom GrowthCV Universal Life Insurance for Financial Protection and Cash Accumulation Marketing Guide Marketing Custom GrowthCV Helping your clients grow and protect their assets will enable them to
More informationThis supplement revises the prospectuses to reflect changes effective December 4, 2017:
This supplement revises the prospectuses to reflect changes effective December 4, 2017: page 1 of 1 Strategic Group Variable Universal Life II Issued by Massachusetts Mutual Life Insurance Company Massachusetts
More informationExperience Reporting Formats. VM-51 Experience Reporting Formats
Experience Reporting Formats Drafting Note: This Valuation Manual Statement revises the June 2007 LHATF exposure of the experience reporting data formats as found in and previously labeled Appendix B.
More informationImportant Information About Your Investments
Primerica Advisors Important Information About Your Investments This brochure contains important information about investing with Primerica, Inc., a financial services company whose stock is traded on
More informationThe Roth contribution option. For retirement plans
The Roth contribution option For retirement plans Contents 2 The Roth contribution option savings choice Learn about the differences between pretax and after-tax contributions 4 Comparing Roth after-tax
More informationCalifornia Update. AICP-- Northwest Chapter E-Day Seattle, WA May 14, Randall Doctor Direct: (415) Tim Moroney Direct: (415)
California Update AICP-- Northwest Chapter E-Day Seattle, WA May 14, 2013 Randall Doctor Direct: (415) 685-0530 Doctor Law Group LLP San Francisco, California randall@doctorlawgroup.com www.doctorlawgroup.com
More informationThis supplement revises the prospectuses to reflect the following change effective December 4, 2017:
This supplement revises the prospectuses to reflect the following change effective December 4, 2017: page 1 of 1 Variable Life Plus (VLP), a Flexible Premium Variable Whole Life Insurance Policy* Issued
More informationAMENDMENT REGARDING UNDERWRITING EXCLUSIONS
1. Date Adopted: AMENDMENT REGARDING UNDERWRITING EXCLUSIONS 2. Purpose and Scope: The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method
More informationPending Case Management User Guide
Client Data System (CDS) Pending Case Management User Guide Version 4.1.2 Copyright 1998-2003, E-Z Data, Inc. All Rights Reserved No part of this documentation may be copied, reproduced, or translated
More informationThis supplement revises the prospectuses to reflect the following change effective December 4, 2017:
This supplement revises the prospectuses to reflect the following change effective December 4, 2017: page 1 of 1 Strategic Group Variable Universal Life Issued by Massachusetts Mutual Life Insurance Company
More informationSession 16 PD, Principle-Based Reserves and Taxation. Moderator: Cindy D. Barnard, FSA, MAAA
Session 16 PD, Principle-Based Reserves and Taxation Moderator: Cindy D. Barnard, FSA, MAAA Presenters: Cindy D. Barnard, FSA, MAAA Mark S. Smith, Esq, CPA Peter H. Winslow SOA Antitrust Disclaimer SOA
More informationPlan Provisions Template MassMutual Terminal Funding Contract Quote Request Plan Description
Normal Retirement Date First of the month or Last of the month Coinciding with or next following or Following Age or The later of age or the anniversary of plan participation (The Accrued Benefit as shown
More informationNOTICE OF INTENT. Department of Insurance Office of the Commissioner. REGULATION 46 Long-Term Care Insurance (LAC 37:XIII.
NOTICE OF INTENT Department of Insurance Office of the Commissioner REGULATION 46 Long-Term Care Insurance (LAC 37:XIII.Chapter 19) The Department of Insurance, pursuant to the authority of the Louisiana
More informationGOVERNMENT OF PUERTO RICO Office of the Commissioner of Insurance
GOVERNMENT OF PUERTO RICO Office of the Commissioner of Insurance March 7, 2018 RULING LETTER NO. CN-2018-236-AS TO ALL DISABILITY INSURERS AND HEALTH SERVICES ORGANIZATIONS THAT WRITE HEALTH INSURANCE
More informationNAIC Update SOUTHEASTERN ACTUARIES CONFERENCE MEETING JUNE 12-14, Presented By: John A. MacBain, FSA, MAAA. Actuarial Resources Corporation
NAIC Update SOUTHEASTERN ACTUARIES CONFERENCE MEETING JUNE 12-14, 2002 Presented By: John A. MacBain, FSA, MAAA Life and Health Actuarial Task Force Regulation To Adopt 2001 CSO Table Male/Female, Nonsmoker/Smoker
More informationSession 10, Statutory Life and Annuity Valuation Issues. Moderator: Donna R Claire FSA, CERA, MAAA
Session 10, Statutory Life and Annuity Valuation Issues Moderator: Donna R Claire FSA, CERA, MAAA Presenters: Thomas A Campbell FSA, CERA, MAAA David E Neve FSA, CERA, MAAA 2015 Valuation Actuary Symposium
More information1. Tables of select mortality factors and rules for their use;
230-RICR-20-25-8 TITLE 230 DEPARTMENT OF BUSINESS REGULATION CHAPTER 20 INSURANCE SUBCHAPTER 25 LIFE AND ANNUITIES PART 8 - Valuation of Life Insurance Policies 8.1 Purpose A. The purpose of this Part
More informationFILED 01/30/2018 3:10 PM ARCHIVES DIVISION SECRETARY OF STATE & LEGISLATIVE COUNSEL
OFFICE OF THE SECRETARY OF STATE DENNIS RICHARDSON SECRETARY OF STATE LESLIE CUMMINGS DEPUTY SECRETARY OF STATE PERMANENT ADMINISTRATIVE ORDER ID 1-2018 CHAPTER 836 DEPARTMENT OF CONSUMER AND BUSINESS
More informationProposed Amendments: N.J.A.C. 11:4-25.2, 25.5, 52.3 and Authorized By: Steven M. Goldman, Commissioner, Department of Banking and Insurance.
INSURANCE DEPARTMENT OF BANKING AND INSURANCE DIVISION OF INSURANCE Funeral Insurance Policies; The 2001 Commissioner s Standard Ordinary (CSO) Mortality Table for Use in Determining Minimum Reserve Liabilities
More informationLesson 3 Permanent Life Insurance
Lesson 3 Permanent Life Insurance Lesson 3 Introduction p1 (LHE) Permanent Life insurance products are designed to meet other needs in addition to the death benefit. Because these products accrue cash
More informationThis page intentionally left blank
This page intentionally left blank 2 TABLE OF CONTENTS I. SUMMARY 5 II. SCOPE OF REPORT 6 III. METHODOLOGY 7 IV. BACKGROUND 8 A. The Interstate Insurance Product Regulation Compact 1. Compact Purpose 2.
More informationJune 7, Dear Board Members:
CITY OF MANCHESTER EMPLOYEES' CONTRIBUTORY RETIREMENT SYSTEM GASB STATEMENT NOS. 67 AND 68 ACCOUNTING AND FINANCIAL REPORTING FOR PENSIONS DECEMBER 31, 2015 June 7, 2016 Board of Trustees City of Manchester
More informationLifetime Loss Ratio ( LLR ) Without/with proposed rate increase of 32.25% (actuarially equivalent to two 15% increases) Nationwide experience
June 12, 2018 Re: 1LTC-97-MD-1, 1LTC-97-MD-2, 2LTC-97-MD-1, 2LTC-97-MD-2 Issued by Metropolitan Life Insurance Company (MetLife) Attached is the filing for the captioned forms. This letter provides an
More informationIt is intended to be a Qualified Long-Term Care Insurance contract under the Federal Internal Revenue Code.
John Hancock Life Insurance Company (U.S.A.) Product Name Form Number Issue Date Range Group Long Term Care GPB-SPR-0007.02 June 1998 - October 2012 1. Scope & Purpose This memorandum consists of materials
More informationGetting started. UltraBranch Business Edition. alaskausa.org
Getting started UltraBranch Business Edition alaskausa.org Contents 2 4 6 8 9 11 13 14 15 21 22 23 24 Key features Getting started Company permissions Setting & exceeding limits Configuring ACH & tax payments
More informationStatement of Financial Accounting Standards No. 35
Statement of Financial Accounting Standards No. 35 FAS35 Status Page FAS35 Summary Accounting and Reporting by Defined Benefit Pension Plans March 1980 Financial Accounting Standards Board of the Financial
More informationHEALTH SAVINGS ACCOUNT (HSA)
HEALTH SAVINGS ACCOUNT (HSA) WELCOME KIT TABLE OF CONTENTS Your Health Savings Account (HSA) 3 Online Registration 4 Accessing Your HSA Online 5 NueSynergy Mobile App 6 HSA Debit Card 7 Eligible Medical
More informationNAIC Bulletin Highlights of the National Association of Insurance Commissioners meeting
May NAIC Bulletin Highlights of the National Association of Insurance Commissioners meeting Spring update In this issue: Executive Committee and Plenary... 2 Executive (EX) Committee... 2 Big Data (EX)
More informationInvestment Options Guide
Investment Options Guide for the Partners HealthCare Retirement Savings Plans It s a great time to be involved in your Partners HealthCare Retirement Savings Plan! Investment Options Guide I Page B We
More informationINSURANCE REGULATION 93 VALUATION OF LIFE INSURANCE POLICIES
State of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, Rhode Island 02920 INSURANCE REGULATION 93 VALUATION OF LIFE INSURANCE
More informationThis Policy will be construed in line with the law of the jurisdiction in which it is delivered.
A Control No. 474928 Blanket Student Accident and Sickness Insurance Policy a contract between Aetna Life Insurance Company (A Stock Company herein called Aetna) and Washington University in St. Louis
More informationBETTER TOMORROW SAVE FOR A. Understanding how your state pension plan works. Products issued by Life Insurance Company of the Southwest T E X A
T E X A S SAVE FOR A BETTER TOMORROW Understanding how your state pension plan works Products issued by Life Insurance Company of the Southwest TC91287(0716)3 Cat No 101849(0716) DREAM ESTABLISH A CLEAR
More informationNovember Course 8ILA Society of Actuaries ** BEGINNING OF EXAMINATION ** MORNING SESSION
- Course 8ILA Society of Actuaries ** BEGINNING OF EXAMINATION ** MORNING SESSION 1. (4 points) You are the Chief Marketing Officer of a large life insurance company with a career agent distribution system.
More informationS TAT E U NIVERSITIES R E T I REMENT SYSTEM OF I L L INOIS
S TAT E U NIVERSITIES R E T I REMENT SYSTEM OF I L L INOIS G A S B S T A T E M E N T N O. 6 7 P L A N R E P O R T I N G A N D A C C O U N T I N G S C H E D U L E S J U N E 3 0, 2 0 1 4 October 10, 2014
More informationVALIC Financial Advisors, Inc. An array of financial planning and investment services SAVING : INVESTING : PLANNING
VALIC Financial Advisors, Inc. An array of financial planning and investment services SAVING : INVESTING : PLANNING Your financial advisor will work with you to help make sure your financial plan fits
More informationManaging Pensions in Sage One Payroll
Managing Pensions in Sage One Payroll 1 Contents Introduction Introduction... 3 Setting the Staging Date... 4 Preparation Steps... 6 Reaching Your Staging Date... 12 To postpone all employees from your
More informationWisconsin IASA. Statement Update. Wisconsin Chapter IASA. Statutory Update. Statement Update Risk-Based Capital Other NAIC Stuff
Wisconsin Chapter IASA Statutory Update September 22, 2017 Connie Jasper Woodroof NAIC Liaison, StoneRiver Agenda Statement Update Risk-Based Capital Other NAIC Stuff Statement Update 1 Jurat Life insurance
More informationSession 46, Streamlining Actuarial Reporting. Moderator: Thomas A. Campbell, FSA, MAAA, CERA
Session 46, Streamlining Actuarial Reporting Moderator: Thomas A. Campbell, FSA, MAAA, CERA Presenter: Laura Alden Hanson, ASA, MAAA Lorne W. Schinbein, FSA, MAAA 2016 Valuation Actuary Symposium Streamlining
More informationTABLE OF CONTENTS. .03 Farmers cooperatives. .01 A request made during the course of an examination
Rev. Proc. 2000 2 TABLE OF CONTENTS SECTION 1. WHAT IS THE p. 77 PURPOSE OF THIS REVENUE PROCEDURE? SECTION 2. WHAT IS p. 78 TECHNICAL ADVICE? SECTION 3. ON WHAT ISSUES p. 78 MAY TECHNICAL ADVICE BE REQUESTED
More informationSAMPLE. PHL Variable Insurance Company Annuity Operations Division PO Box 8027 Boston, MA Telephone (800)
PHL VARIABLE INSURANCE COMPANY A Stock Company PHL Variable Insurance Company ( the Company ) agrees, subject to the conditions and provisions of this contract, to provide the benefits specified in this
More informationTypes of contributions concessional, non-concessional, capital gains tax (CGT) cap contributions and personal injury contributions.
TB 59 Contributions Issued on 1 July 2013. Summary A superannuation fund has strict rules set by law for the acceptance of. The client s age, the type of contribution and work status are some of the factors
More informationQuarterly Newsletter - Q1 2018
Quarterly Newsletter - Q1 2018 2018 Contribution Limit Changes The IRS increased the 402(g) contribution rates for 401(k), 403(b) and 457(b) plans this year, as well as increasing the maximum 415(c) limit
More informationSouth Carolina Retirement System. SCRS Member Handbook. January 2013 Edition. Revised
South Carolina Retirement System SCRS Member Handbook January 2013 Edition Revised 4-1-2013 This handbook provides an overview of benefits as of January 2, 2013 This page contains no other content. Table
More informationGuide to online withdrawals
Less time, paper and phone calls Many types of withdrawal requests can be completed online through your account on TIAA.org, 1 which saves time and reduces the need for paper forms. This guide includes
More informationFIRE & POLICE PENSION PLAN TIER 2 (FORMERLY ARTICLE XVIII)
FIRE & POLICE PENSION PLAN TIER 2 (FORMERLY ARTICLE XVIII) SUMMARY PLAN DESCRIPTION CITY OF LOS ANGELES Department of Fire and Police Pensions 360 East Second Street, Suite 400 Los Angeles, California
More informationMajor Areas of Life & Health Activity
NAIC UPDATE SOUTHEASTERN ACTUARIES CONFERENCE MEETING KEY WEST, FLORIDA Major Areas of Life & Health Activity A. LHATF (Life & Health Actuarial Task Force) JUNE 23-24, 2005 B. Interstate Compact C. Other
More informationSeparation pay options. Strategies to defer taxes on lump sum payments
Separation pay options Strategies to defer taxes on lump sum payments When you separate from service or retire, you may be paid a lump sum. Contributing or rolling over your money into the deferred compensation
More informationNAIC Life and Health Actuarial Task Force
To: From: NAIC Life and Health Actuarial Task Force Work Group of the Academy s Life Financial Soundness/Risk Management Committee Subject: Revisions to Actuarial Guideline 34 Date: 10/30/03 The following
More informationMIKE BOERNER Director, Actuarial Office, Financial Texas Department of Insurance
MIKE BOERNER Director, Actuarial Office, Financial Texas Department of Insurance History Events of Spring & Summer 2012 Early Fall 2012 Valuation Manual Operative Date Variety of Customers & Needs Process
More informationOHIC 2016 Form Filing Instructions Individual and Small Group
OHIC 2016 Form Filing Instructions Individual and Small Group A. General Instructions 1. The following are Form Filing Instructions for the State of Rhode Island Office of the Health Insurance Commissioner
More informationThis supplement revises the prospectuses to reflect the following change effective December 4, 2017:
This supplement revises the prospectuses to reflect the following change effective December 4, 2017: page 1 of 1 Variable Life Select (VLS) Issued by MML Bay State Life Insurance Company MML Bay State
More informationPost-NAIC Update/PBA Webinar
Post-NAIC Update/PBA Webinar August 30, 2012 Moderator: Dave Neve, FSA, MAAA, CERA Chairperson, American Academy of Actuaries Financial Soundness/Risk Management Committee All Rights Reserved. 1 Agenda
More informationLifetime Loss Ratio ( LLR ) Without/with proposed rate increase of 32.25% (actuarially equivalent to two 15% increases) Nationwide experience
June 13, 2018 Re: LTC-FAC, LTC-VAL, LTC-IDEAL and LTC-PREM Issued by Metropolitan Life Insurance Company (MetLife) Attached is the filing for the captioned forms. This letter provides an overview of the
More informationPost-NAIC Update/PBA Webinar
All Rights Reserved. Post-NAIC Update/PBA Webinar Dave Neve, FSA, MAAA, CERA Chairperson, American Academy of Actuaries Life Financial Soundness / Risk Management Committee March 29, 2012 Agenda for Webinar
More informationPBR Resources from the Life Practice Council of the American Academy of Actuaries
PBR Resources from the Life Practice Council of the American Academy of Actuaries Donna Claire, MAAA, FSA, CERA 2017 American Academy of Actuaries. All rights reserved. May not be reproduced without express
More informationLong-Term Care Insurance Disclosures
Long-Term Care Insurance Disclosures Disclosure Requirements from Long-Term Care Insurance Model Act (#640) **** Section 6. Disclosure and Performance Standards for Long-Term Care Insurance A. The commissioner
More informationIncome Tax Terms Deductions and Credits
This document is made available electronically by the Legislative Reference Library as part of an ongoing digital archiving project. http://www.leg.state.mn.us/lrl/lrl.asp INFORMATION BRIEF Research Department
More informationRoth 401(k) An option available to 401(k) participants
Roth 401(k) An option available to 401(k) participants Dear retirement plan participant, We re pleased to announce that, in our effort to help you better prepare for retirement; you are now able to take
More informationST. LUCIE COUNTY SCHOOL BOARD SALARY SCHEDULES, SECTION 1 GENERAL PROVISIONS
I. Salary Schedules ST. LUCIE COUNTY SCHOOL BOARD SALARY SCHEDULES, SECTION 1 GENERAL PROVISIONS The salary schedules adopted by the School Board of Saint Lucie County are effective July 1, 2017 and continue
More informationSERFF Tracking Number: QBEC State: Oregon First Filing Company: QBE Insurance Corporation,... State Tracking Number: QBEC
Filing at a Glance Companies: QBE Insurance Corporation, Praetorian Insurance Company, North Pointe Insurance Company ISO Market Segments - Hotels, SERFF Tr Num: QBEC-128112702 State: Oregon Motels and
More informationWe are pleased to present to the Board the GASB Statement No. 67 measured as of December 31, 2013 for the Austin Police Retirement System.
November 26, 2014 Mr. Sam Jordan, CEO Austin Police Retirement System 2520 South IH 35, Suite 100 Austin, TX 78704 RE: GASB Statement No. 67 Austin Police Retirement System Dear Board: We are pleased to
More informationIIPRC-L07-I-4 ADDITIONAL STANDARDS FOR GRADED DEATH BENEFIT FOR INDIVIDUAL WHOLE LIFE INSURANCE POLICIES
IIPRC-L07-I-4 ADDITIONAL STANDARDS FOR GRADED DEATH BENEFIT FOR INDIVIDUAL WHOLE LIFE INSURANCE POLICIES 1. Date Adopted: August 5, 2017 2. Purpose and Scope: The Additional Standards For Graded Death
More informationSEAC. Would You Like LTC/Critical Illness With That? June 23, LTC/CI with
SEAC Would You Like LTC/Critical Illness With That? June 23, 2005 Carl Friedrich, FSA, MAAA Consulting Actuary Milliman, Inc. 1 Individual life products continue to evolve UL focus on flexibility and interest
More information