Description: Critical factors to consider as we age include where we live, who we interact with, how we get the help and support we need when we need it, and how our health care is organized and delivered. Underlying this is how we finance the cost of specialized housing, care and support. Some communities are age-friendly where we can obtain supportive services, others are not. Some people choose to live in senior housing which integrates support services, others choose to live in the community among people of all ages. Some health care systems are well designed to meet the needs of older people, others are not. The cost of living for older adults, considering all of these factors, varies by community. Explore more about the perspective of older adults, how communities have structured to meet their needs, and how society as a whole is becoming aware of and addressing a growing aging population.

Description: In this introductory session, we set the stage for the Symposium’s entire ElderTech track. We’ve seen increasing technology adaptation by the elderly in many areas of their lives, including socializing, health care, mobility, home monitoring, insurance, investing and financial planning. Panelists will provide an overview of the current state of ElderTech and how they believe it will evolve in the short and long term. Panelists will also discuss the problems ElderTech is trying to solve, consumer pain points and why ElderTech has become so important recently.

Description: LDTI's roll forward disclosure requirements include line items for the impact of actual variances from expected experience (A/E) for both net premiums and benefits. These aggregate A/E amounts provide some insight into how actual experience is emerging relative to expectations, but they do not provide insight into either the drivers of the deviations or their significance.

Description: Discover an introduction to decomposing differences in life expectancy by age and cause of death. Take a look into demographic techniques that decompose life expectancies at birth and older ages into the portions contributed by later age groups and causes of death-. These have been in existence for some time and provide a convenient device for analyzing mortality change over time as well as differences between sexes, countries, and ethnic groups. The methods will be described and illustrated by spreadsheet examples.

Description: "Population Aging, Global Climate Change and Social Security – Sally Shen, Research Associate, Global Risk Institute, John A. Turner, Ph.D., Director, Pension PolicyClimate Change and Mortality Time for Actuaries to Pay Attention – Sam Gutterman. FSA, CERA, FCAS, FCA, HONFIA, MAAA"

Description: Life insurance with LTC features is exciting business to produce, but the complex for a valuation actuary at year-end. This session will discuss setting morbidity and policyholder behavior assumptions for principles-based reserving and cash flow testing more generally. We will review considerations for GAAP reserving for hybrid products. We will highlight the interaction of assumptions whose risks offset (mortality, morbidity, lapse, and more) and how the valuation actuary may think of these in sensitivity testing and setting prudent estimates. Panelists will draw from the 2022 Academy of Actuaries Combination Product Valuation Practice Note.Finally, we will discuss reserve assumption setting in light of public-private LTC legislation (e.g. Washington Cares), which inspired sales of hybrid life and LTC products in the individual and worksite markets.

Description: Life insurance products have evolved over time from the early mutual aid societies paying benefits when members died to comprehensive products covering a range of financial needs over an individual’s lifecycle. While some life insurance benefit riders have been offered for decades and are well-established, recent years have seen a number of accelerated benefit riders being introduced by carriers for a growing range of covered triggers. Join us as we discuss these acceleration and extended benefit riders, trends and innovations in the space, and discuss challenges and actuarial considerations in designing, pricing, and modelling them. We will also explore issues carriers have experienced, how to consider the interactions between these benefits and the underlying mortality coverage, reinsurance considerations, and more!

Description: The Casualty Actuarial Society (CAS), the Society of Actuaries (SOA) and the Society of Insurance Research (SIR) started developing research addressing diversity, equity and inclusion (DEI) topics. Join panelists as they briefly present an overview of their organization's DEI research and share their perspectives on common challenges facing all the stages of this research: - Planning relevant and timely research with a long timeline. - Getting appropriate data and resources to support your research. - Communicating research on topics that may be controversial.

Description: Who wants to be a Millionaire - Annuity + LTC edition! Through a series of increasingly challenging questions to our contestants, we will explore the depths of annuity + LTC products! Unlike annuity + LTC customers, in this gameshow there will be a winner and there will be a loser. Through the game show format, this session will explore emerging market trends and their drivers in annuity + LTC products, including long-run structural demographic and economic forces. The panelists will also review product design and assumption development considerations, contrasting annuity + LTC products with life + LTC products. We will challenge contestants on the compliance and regulatory issues in product development. Finally, we will provide a future outlook and areas for growth in this niche market. Attendees will understand the emerging product designs, risk profiles, and market potential for annuity + LTC products, and one attendee will win a million dollars*. (*monopoly money)

Description: Retirement planning generally includes a focus on decisions needed at time of retirement, but it often fails to focus on changes during retirement and additional decisions needed as people age. The 2021 SOA Risk Survey and other SOA research documents the lack of focus on future change. It is common for people to lose cognitive ability and generally to become less able to make decisions, manage their finances, their medical care and their lives at high ages.This panel focuses on communication and decision issues. The SOA has recently issued a decision guide on High Age Decisions. The brief identifies four domains for high age decisions: ·Health, health care and staying healthy ·Managing finances ·Housing and transportation ·Support networks The panel will include a discussion of communications and how we change, problems of physical, hearing, sight or cognitive decline and the challenges created and the four domains in the SOA Decision Brief.