Actuarial Guidelines (AGs)

Valuation Manual
Jan. 1, 2020 Edition

VM-C: Appendix C – Actuarial Guidelines
Guidance Note: This appendix references the following requirements from Appendix C of the AP&P Manual.
Guideline No. TITLE
Interpretation of the Standard Valuation Law With Respect to the Valuation of Policies Whose
Valuation Net Premiums Exceed the Actual Gross Premium Collected
II Reserve Requirements With Respect to Interest Rate Guidelines on Active Life Funds Held
Relative to Group Annuity Contracts
IV Actuarial Interpretation Regarding Minimum Reserves for Certain Forms of Term Life
V Interpretation Regarding Acceptable Approximations for Continuous Functions
VI Interpretation Regarding Use of Single Life or Joint Life Mortality Tables Draft 20 June 1983
VII Interpretation Regarding Calculations of Equivalent Level Amounts
VIII The Valuation of Individual Single Premium Deferred Annuities
IX Form Classification of Individual Single Premium Immediate Annuities for Application of the
Valuation and Nonforfeiture Laws
Use of Substandard Annuity Mortality Tables in Valuing Impaired Lives Under Structured
Clarification of Methods Under Standard Valuation Law for Individual Single Premium
Immediate Annuities, Any Deferred Payments Associated Therewith, Some Deferred Annuities
and Structured Settlements Contracts
Use of Substandard Annuity Mortality Tables in Valuing Impaired Lives Under Individual
Single Premium Immediate Annuities
XIII Guideline Concerning the Commissioners’ Annuity Reserve Valuation Method
XIV Surveillance Procedure for Review of the Actuarial Opinion for Life and Health Insurers
XVI Calculation of CRVM Reserves on Select Mortality and/or Split Interest
XVII Calculation of CRVM Reserves When Death Benefits are not Level
XVIII Calculation of CRVM Reserves on Semi-Continuous, Fully Continuous or Discounted
Continuous Basis
XIX 1980 CSO Mortality Table With Ten-Year Select Mortality Factors
XX Joint Life Functions for 1980 CSO Mortality Table
XXI Calculation of CRVM Reserves When (b) is Greater Than (a) and Some Rules for
Determination of (a)
XXIII Guideline Concerning Variable Life Insurance Separate Account Investments
XXV Calculation of Minimum Reserves and Minimum Nonforfeiture Values for Policies With
Guaranteed Increasing Death Benefits Based on an Index
XXVI Election of Operative Dates Under Standard Valuation Law and Standard Nonforfeiture Law
XXVII Accelerated Benefits
XXVIII Statutory Claim Reserves For Group Long-Term Disability Contracts With a Survivor Income
Benefit Provision
XXIX Guideline Concerning Reserves of Companies in Rehabilitation
XXX Guideline for the Application of Plan Type to Guaranteed Interest Contracts (GICS) With
Benefit Responsive Payment Provisions Used to Fund Employee Benefit Plans
XXXI Valuation Issues vs. Policy Form Approval
XXXII Reserve for Immediate Payment of Claims
XXXIII Determining CARVM Reserves for Annuity Contracts With Elective Benefits

1. Report of American Academy of Actuaries Liaison Committee
Gary D. Simms, general counsel of the American Academy of Actuaries, summarized the report of the
Liaison Committee (Attachment One). He indicated the purpose of the committee was to interact with
the NAIC on a policy level as well as to provide support to various groups within the NAIC. He
mentioned that among other activities, the Academy had published the NAIC Actuarial Guidelines in
the 1986 Academy Journal and plans to do so again this year as well as provide other communication
of NAIC actuarial activities to the Academy members.

1988-1, NAIC Proceedings


The Emerging Actuarial Issues (E) Working Group responds to questions of application, interpretation and clarification with respect to Actuarial Guideline XXXVIII—The Application of the Valuation of Life Insurance Policies Model Regulation (AG 38).
Interpretations of the Emerging Actuarial Issues (E) Working Group