Hi Gary, I am not really sure about some notation such as benefit base, excess death benefit and excess withdrawal benefits. Could you mind say something about it or recommend some reference for us? Thanks
Benefit Base is just the total of amount of withdrawals that is guaranteed.
Excess Death Benefits is the amount of death benefit paid that is larger than the AV. From the single policy holder perspective, it is ExcessDB(t) = Max(GMDB(t-1) - (AV(t-1)*(TR(t)/TR(t-1))- charges),0)
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hi,Gary, could you please tell me some accounting regulation of unrealized capital? And what does M&E stand for? Thanks very much.
Posted by: Anonymous | April 19, 2008 10:12 AM
The appropriate accounting rule in the U.S. is FAS 115.
http://www.fasb.org/pdf/fas115.pdf
M&E stands for Mortality and Expense
Posted by: Gary Hatfield | April 19, 2008 12:37 PM
I could not find SC.txt. Thanks.
Posted by: Anonymous | April 19, 2008 10:04 PM
I am sorry. I have uploaded it now.
Posted by: Gary Hatfield | April 20, 2008 12:55 PM
Hi Gary, I am not really sure about some notation such as benefit base, excess death benefit and excess withdrawal benefits. Could you mind say something about it or recommend some reference for us? Thanks
Posted by: Anonymous | April 24, 2008 3:59 PM
OK, here is a shot:
Benefit Base is just the total of amount of withdrawals that is guaranteed.
Excess Death Benefits is the amount of death benefit paid that is larger than the AV. From the single policy holder perspective, it is ExcessDB(t) = Max(GMDB(t-1) - (AV(t-1)*(TR(t)/TR(t-1))- charges),0)
Excess Withdrawals(t) = Max(Withdrawls(t) - (AV(t-1)*(TR(t)/TR(t-1)) - charges),0)
Posted by: Gary Hatfield | April 25, 2008 1:58 PM