This text focuses on the relationships among the various types of values that are associated with individual life and annuity contracts. For the experienced actuary or someone switching careers into the individual life business, this text provides a comprehensive summary of current actuarial practice in the design, pricing and daily maintenance of individual products.
For the student, it illustrates the dependencies that exist among premiums, cash values, reserves, dividends and other non-guaranteed elements when designing individual products. It also demonstrates how all aspects of actuarial practice are linked together in a product management cycle.
This book has been adopted as a reference for the new Fundamentals of Actuarial Practice Course offered by the Society of Actuaries.
It is a valuable supplemental reference for SOA Course 8-Individual Insurance.
