Secondary Guarantees â UL & VUL Products - Actuary.com

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Initial Stochastic Model Graph – Range of Profitability on 100% S&P 500 Stochastic Results PV After Tax Profit (000's) 6,000 5,000 4,000 3,000 2,000 1,000 0 1 11 21 31 41 51 61 71 81 91 Scenario 100% S & P Baseline 61
<strong>Secondary</strong> Guarantee Rider Profit Results • Second Stochastic Model – 60% Investment in S&P 500 – 40% in Intermediate Term Bond Fund – Portfolio Rebalanced Monthly • Reported results: – 8% of all cells go “in the money” – PV of Profits Statistics • Mean: $ 3.3M • Std. Dev. :$ 460k • Mean difference vs. baseline: $385k 62
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Secondary Guarantees - UL & VUL Pro
Page 3 and 4:
Universal Life Overview 2
Page 5 and 6:
Description of Secondary Guarantee
Page 7 and 8:
Valuation Changes Impact on Seconda
Page 9 and 10:
Valuation - The Impact of XXX • E
Page 11 and 12: Valuation - The Impact of XXX • T
Page 13 and 14: Valuation - The Impact of AXXX •
Page 15 and 16: Valuation - The Impact of AXXX •
Page 17 and 18: Valuation - The Impact of AXXX 3. D
Page 19 and 20: Valuation - The Impact of AXXX 5. C
Page 21 and 22: Valuation - The Impact of AXXX 7. C
Page 23 and 24: Valuation - The Impact of AXXX 9. D
Page 25 and 26: Methods Used to Manage the Financia
Page 27 and 28: Methods Used to Manage the Financia
Page 29 and 30: Impact of the 2001 CSO Mortality Ta
Page 31 and 32: Case Study - UL Model Office Parame
Page 33 and 34: Impact of Regulation XXX Profitabil
Page 35 and 36: Impact of Regulation AXXX Model Off
Page 37 and 38: Impact of the 2001 CSO Table 1980 C
Page 39 and 40: Closing Remarks • Changes in Regu
Page 41 and 42: General Description • Secondary G
Page 43 and 44: Valuation Requirements • Historic
Page 45 and 46: Actuarial Guideline XXXVII • Set
Page 47 and 48: Actuarial Guideline XXXVII • Defi
Page 49 and 50: OYT Reserve • If the one year pro
Page 51 and 52: AALR • The reserve can never be l
Page 53 and 54: AALR 52
Page 55 and 56: Recent Developments • Restriction
Page 57 and 58: Key Policy Design and Pricing Param
Page 59 and 60: Secondary Guarantee Rider Design
Page 61: Secondary Guarantee Rider Profit Re
Page 65 and 66: Secondary Guarantee Rider Profit Re
Page 67 and 68: VUL Case Study Summary • Placing
Page 69 and 70: Reinsurance Issues 68
Page 71 and 72: Reinsurance Issues • Structure
Page 73 and 74: YRT • Quota Share of Mortality Ri
Page 75 and 76: YRT-Secondary Guarantee Risk • Re
Page 77 and 78: Secondary Guarantee Reserves • Us
Page 79 and 80: • Even more complicated Financial
Page 81 and 82: Why the Lack of Capacity? • Reins
Page 83 and 84: Reinsurance Premium Guarantees •
Page 85: Secondary Guarantees - UL & VUL Pro
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Secondary Guarantees â UL & VUL Products - Actuary.com