Keith P. Sharp (Third Prize)
Abstract
This paper describes the commissioners annuity reserve valuation method (CARVM) and highlights the fundamental contrast with insurance valuation. Numerical examples illustrate methods of applying CARVM to particular annuity designs. The application of NAIC Actuarial Guideline 13 on bailouts is given particular attention.
Key words and phrases: cash surrender values, single premium deferred annuity, antiselection, election.
Keith Sharp
Department of Statistics & Actuarial Science
University of Waterloo
Waterloo ON N2L 3G1
CANAD
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