January 19, 2012 January 19, 2012 Contingent Annuity Work Group (CAWG) of the Contingent Annuity Work Group (CAWG) of the Life Products Committee of the Life Products Committee of the American Academy of Actuaries American Academy of Actuaries Copyright ©2012 by the American Academy of Actuaries All Rights Reserved. 1 A typical CA design Self-Insurance (i.e., no benefits and no fees) Background Background Copyright ©2012 by the American Academy of Actuaries All Rights Reserved. 2