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Froogle 1.1.1.7
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Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

ASOP 2 | §3.5 | NGES USED IN ILLUSTRATIONS NOT SUBJECT TO ASOP NO. 24

The actuary should recommend NGE scales to be used in illustrations not subject to ASOP No. 24 that have been determined consistently with section 3.4. The actuary should also follow applicable regulations, guidelines, and standards for illustrations, such as those that are based upon the following:
a. Annuity Disclosure Model Regulation (Model 245); and

b. Variable Life Insurance Model Regulation (Model 270) and NAIC Actuarial Guideline 15.
The actuary should consider conducting tests of illustrated NGE scales to ascertain whether those illustrated NGE scales could be supported by anticipated experience factors and other reasonable assumptions.
ASOP 2 | Commentary Section 3.5 | COMMENT ON SECTION 3.5
CommentResponse
One commentator suggested deleting this section, the related disclosure in section 4.1(q), and language related to ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation, in section 1.2.The reviewers disagree but clarified language related to illustrations not subject to ASOP No. 24.
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