Academy/Society of Actuaries Group Long-Term Disability Work Group March 2, 2012 Copyright ©2012 by the American Academy of Actuaries Update to NAIC March 2, 2012 All Rights Reserved. 1 Section 1: Valuation Consideration by Product Type Objectives Objectives Valuation Precedents Copyright ©2012 by the American Academy of Actuaries Update to NAIC March 2, 2012 All Rights Reserved. 2 2