Reserve regulation

Products & assumptions

Each product page starts with the regimes that govern it by issue date, then compares every reserve assumption across those regimes. Click any assumption to drill to the regulation text, citations, and official documents.

Life

Term life

The deepest page — premiums, mortality, segmentation, X factors, deficiency reserves across Pre-XXX CRVM, Regulation XXX, and VM-20 NPR / DR&SR.

Whole life

CRVM before PBR, then VM-20 — dividends, nonforfeiture floors, and the life PBR exemption for smaller writers.

Universal life

Model 585's guaranteed maturity premium method, AG 38 for secondary guarantees, then VM-20.

Variable UL

Model 270's separate-account framework, minimum death benefit guarantees, AG 38 overlay, then VM-20.

Health beta

Disability income

Model 010's two-year preliminary term structure, the 1985 CIDA → 2013 IDI table transition, claim reserves.

Long-term care

Model 010 with LTC-specific lapse caps, AG 51 asset adequacy testing, the rate-increase interplay.

Annuities beta

Variable annuities

CARVM under the SVL, AG 34/39 guarantees, AG 43, then VM-21's CTE 70 framework with the standard projection amount.

Fixed annuities

CARVM with AG 33 elective-benefit streams and AG 35 for indexed designs, then VM-22 for 2026+ issues.

Payout annuities

Single premium immediate and deferred income annuities: CARVM, the 2018 VM-22 income annuity valuation rates, then VM-22 PBR.

Principles-Based Reserves

PBR Overview

What principles-based reserving is and how a PBR reserve is built.

Framework Comparison

VM-20, VM-21, and VM-22 compared on every dimension.