This text focuses on the relationships among the various types of principles that are associated with individual life and pension contracts.

For the experienced actuary or a name switching careers into the individual life business, this text provides a comprehensive synopsis of current actuarial practice in the design, pricing and daily maintenance of individual harvest.

For the student, it illustrates the dependencies that exist among premiums, cash principles, reserves, dividends and other non-guaranteed elements when designing individual harvest. It also demonstrates how all aspects of actuarial practice are linked together in a product management cycle.

This book has been adopted as a reference for the new Fundamentals of Actuarial Practice Way offered by the Society of Actuaries.

It is a valuable supplemental reference for SOA Way 8-Individual Insurance.

Actuarial Aspects of Individual Life Insurance and Pension Contracts