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Determining Mortality Risk
• Historical Method
– Although no other guidance was available, the practice of
comparing the insurance and non-insurance cash flows
emerged
– Using the single best-estimate assumptions, actuaries
projected the cash flows to the policyholder
– These would include insurance cash flows such as death
benefits, morbidity benefits and life-contingent annuity
benefits and well as non-insurance cash flows such as
surrender benefits and maturity benefits