№ files_lp_3_process_7_036200
Amendment proposal detailing changes to the Valuation Manual VM-20 for group life insurance certificates issued under individual risk selection, specifying minimum reserve requirements, transition periods, and guidance for actuarial valuation compliance.
Year: 2021
Organization: American Academy of Actuaries, Life Reserves Work Group
Document Type: Amendment Proposal Form
Region / Jurisdiction: United States
Subject: Individual risk selection in group life insurance and Principle-Based Reserve (PBR) applicability
Target Audience: Actuaries, insurance regulators, NAIC staff
Effective Period: On or after January 1, 2021
Referenced Document: Valuation Manual VM-20, revisions to APF 2020-11
NAIC Staff Review Dates: Received 3/19/19
Appendices: Red-line changes and supporting notes on individual certificates
Key Changes: Inclusion of individual certificates under group contracts in VM-20, transition period through 1/1/2024, updated reserve requirements and guidance notes
Price: 8 / 10 USD
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