MG-Triton Payout Annuity


  • Print
  • Connect
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Google+

This MG-Triton® Payout Annuity (PA) valuation system has the ability to calculate statutory, tax, and GAAP reserves. The system can also process in-force projections for a wide range of payout annuities, including:

  • certain and life
  • life only
  • certain only
  • temporary life
  • joint life
  • variable payout annuities
  • cash refund annuities
  • complex structured settlements including Actuarial Guideline IX-B carve-out and graded interest methods
  • increasing/decreasing payouts
  • substandard policies: percentage increase, constant extra deaths, rated age
  • mortality projection scale factors
  • early retirement
  • preretirement death benefits

Statutory

Statutory reserves are calculated in full compliance with the Commissioner's Annuity Reserve Method as defined by the National Association of Insurance Commissioners Model Standard Valuation Law. In addition, the following actuarial guidelines and features are fully supported:

  • Guideline IX annuity definition to each contract
  • Guideline IX-B 115% definition
  • Guideline IX-B 110% definition
  • Guideline IX-B carve-out and graded interest rate method
  • mortality projections, including "generational mortality" methodology
  • calculation of standard mortality reserves for substandard contracts
  • ability to group benefits within a contract together or treat benefits individually

GAAP

GAAP reserves are calculated in compliance with the Statement of Financial Accounting Standards No. 97, No. 60, and No. 91 as prescribed by the Financial Accounting Standards Board. Deferred acquisition cost asset and unearned profit reserve components are presented in great detail. Annual and monthly projections of the GAAP values are provided.

Next Steps

For more information, contact: