Long-term care life insurance combination product valuation
20 April 2022
This practice note details specific considerations that valuation actuaries face when setting reserves for so-called combination products, which are offerings by carriers that provide life and health insurance benefits. The note was prepared by Long-Term Care Combo Product Valuation Practice Note Work Group, which is organized by the Life Practice Council of the American Academy of Actuaries. The note covers 27 questions, discussing topics such as:
- How combination product reserves are reported
- Prudent estimate assumptions
- Margins and expenses
- Reserves calculation and exclusion testing
- Impact of reinsurance
This article was published by the American Academy of Actuaries.
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About the Author(s)
Curt M. Clingerman
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