PEMBAHASAN
Statutory and GAAP Policy Reserve[1]
Minimum reserve requirements are conservative. Three factors related to the minimum reserve requirements and the way an insurer calculates statutory reserves contribute to the conservative nature of statutory policy reserves:
- Conservative mortality tables: Insurer calculates statutory reserve using the NAIC’s mandated valuation mortality tables. These tables are conservative and show higher mortality rates than the rates that insurers generally expect to experience for a block of policies.
- Low interest rates: Insurers calculate statutory reserves using conservative interest rates, which are lower, than the rates that most insurers expect to earn on their invested assets.
- No lapse or withdraws: Insurers calculate statutory reserves assuming that no policy owners will withdraw from coverage. This requirement means that the present value of future benefits is often considerably greater than insurer actually expect because some policy owners are almost sure to withdraw from coverage or allow their coverage to lapse.
Jawaban: b. ii, iii
[1] Mulligan, E. and Stone, G. (1997). Accounting and financial reporting in life and health insurance companies. Atlanta, Ga.: Life Management Institute, LOMA.
