Recent 7702 and Nonforfeiture Changes: What Fraternal Benefit Societies Can Do and Must Do
April 28, 2021 | 11:00 AM – 12:00 PM CDT
Two regulatory changes occurred in the closing days of 2020 which have big implications for the fraternal benefit societies. One was a change to Internal Revenue Code section 7702, and the other was a change to section VM-02 in the NAIC valuation manual. What’s particularly impactful is how these two changes interact with each other.
These changes create new opportunities for risk management and product development. But they come with a catch – to remain in compliance, fraternals will need to redesign and refile likely all whole life and term insurance products by the end of the year, even if societies have recently updated your products.
If your society writes life insurance, you can’t afford to miss this webinar! Join Chris Conklin from Miller Newberg and Sean Cox from First Consulting as they help you to become an expert on these two changes.
Chris Conklin, FSA, MAAA, MBA
Managing Director, Miller & Newberg Consulting Actuaries
Sean P. Cox, HIA, MHP
President, First Consulting & Administration
This event is complimentary for Alliance members. Nonmember fees are $100 per person.