Secondary Guarantees â UL & VUL Products - Actuary.com
Secondary Guarantees â UL & VUL Products - Actuary.com
Secondary Guarantees â UL & VUL Products - Actuary.com
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Valuation – The Impact of AXXX<br />
• Actuarial Guideline AXXX addressed two issues.<br />
– Adjusting XXX reserves a “catch-up” provision.<br />
• Retroactive to the earlier of a state’s adoption of XXX or<br />
the NAIC Accounting Practices and Procedures Manual.<br />
– Adjusting XXX reserves when the secondary guarantee<br />
is being pre-funded.<br />
• Applies to contracts issued on or after the later of the date<br />
of a state’s adoption of XXX and 1/1/2003.<br />
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