Description of Experience - Prospective Sample Clauses

Description of Experience - Prospective. With the transfer of the business and administration to Kanawha in 1995 no future gain or loss after 1997 accrues to MetLife and there was no prospective contribution attributable to these policies. Actuarial Contribution Memorandum Page 52 November 16, 1999 529 VII. D. METLIFE US - DIRECT RESPONSE BUSINESS
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Description of Experience - Prospective. For all policies that were included in the Closed Block, the Closed Block assumptions (which are documented in the Closed Block Memorandum) were used for the calculation of prospective ACs with the following exceptions: - Expenses - AC calculations were based on expenses in current business plans rather than the expenses charged to the Closed Block. - Prospective Earned Rates - Closed Block assets represent a subset of the total assets supporting the block of business. In order to calculate prospective earned rates, all assets supporting the line were included. - Federal Income Taxes - In the Closed Block calculations, the effective tax rate was increased to account for the payment of certain state income taxes. For AC purposes, these state income taxes are accounted for in the derivation of the Exhibit 6 expense factor. Also, the amortization of existing DAC tax balances was excluded from the closed block, but is considered in calculation of prospective AC. For policies that are not in the Closed Block, prospective assumptions were developed based on the most recently available data and in a manner consistent with the development of historical assumptions. Actuarial Contribution Memorandum Page 18 November 16, 1999 495 III. C. CANADA - TRADITIONAL LIFE POLICIES
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Description of Experience - Prospective. All MetLife US Industrial policies were included in the Closed Block. The Closed Block assumptions (which are documented in the Closed Block Memorandum) were used for the calculation of prospective ACs with the following exceptions: - Expenses - As also noted in Section II, unit expenses for the 1993 and later calendar years were graded from 1993 levels into MetLife's prospective business plan expenses. These expense assumptions were used rather than the expenses charged to the Closed Block. - Prospective Earned Rates - Closed Block assets represent a subset of the total assets supporting the block of business. In order to calculate prospective earned rates, all assets supporting the line were included. - Federal Income Taxes - In the Closed Block calculations, the effective tax rate was increased to account for the payment of certain state income taxes. For AC purposes, these state income taxes are accounted for in the unit expense factors. Actuarial Contribution Memorandum Page 23 November 16, 1999 500 IV. B. CANADA - INDUSTRIAL LIFE POLICIES
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Description of Experience - Prospective. In general, the average after tax gain as a percentage of premium was determined for the period of renewal years (1989 - 1998) and applied against projected in force to project future earnings for 50 years after which earnings are immaterial. Future persistency was based on recent experience and includes conversion activity, which has been negligible. Actuarial Contribution Memorandum Page 54 November 16, 1999 531 VII. E. METLIFE US - DIRECT MARKETED GROUP TERM LIFE
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Description of Experience - Prospective. For each modeled policy form, prospective after-tax profits as a percentage of premium were assumed to equal the average historical after-tax profit margins of the policy form for the five years ending with the Statement Date. These profit margins were applied to a 50-year projection of future premiums. Future premiums were projected using calendar year lapse rates developed from recent experience assuming a closed block of business, and included anticipated maturity rates based on the inforce as of the Statement Date. The present value of future profits was discounted to the Statement Date using an after-tax earnings rate for this LOB. Actuarial Contribution Memorandum Page 61 November 16, 1999 538 VII. I. CANADA - INDIVIDUAL HEALTH POLICIES
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Description of Experience - Prospective. For Structured Settlements, Terminal Funding and Closeout contracts, prospective ACs were calculated by product, based on the level interest scenario Asset Adequacy Analysis performed as of the Statement Date. The projection period was through the year 2050, which is consistent with Asset Adequacy Analysis assumptions. Contributions to surplus beyond the year 2050 were determined to be immaterial. Prospective ACs were expressed as a percentage of the statutory reserves as of the Statement Date. The prospective AC for GICs assumed that the pricing achievable spread continues to the expiry of the current guarantee period. No renewals were projected. Treasuries Plus contracts assumed a continuation of the short term rates in the future. These contracts have no explicit expiry date. The prospective AC assumed a projection period of 20 years. Group profits occurring more than 20 years into the future on contracts without life contingent annuity payments were considered speculative and no future contributions to surplus were calculated beyond 20 years. Experience assumptions for all Department 11 products are based on company business plans. Contributions to surplus over the projection period were discounted to the Statement Date at the after-tax earned rates. Actuarial Contribution Memorandum Page 71 November 16, 1999 548 VIII. C. METLIFE US - GROUP ANNUITY SEPARATE ACCOUNTS
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Description of Experience - Prospective. The present value of future statutory after-tax profits through the year 2050 was discounted to the Statement Date using an after-tax earnings rate for this LOB. Projected amounts beyond the year 2050 were determined to be immaterial. Actuarial Contribution Memorandum Page 92 November 16, 1999 569 X. B. METLIFE US - WITHOUT LIFE CONTINGENCIES
Sample 1
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Description of Experience - Prospective. The present value of future after-tax profits for the lesser of contract maturity or the year 2050 was discounted to the Statement Date using an after-tax earnings rate for this LOB. Projected amounts beyond the year 2050 were determined to be immaterial.
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Related to Description of Experience - Prospective

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