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IRC Section 7702 Changes: More Than Meets the Eye

Maureen Shaughnessy, FSA, MAAA 2/16/2021

What do the changes to the interest rate assumptions in the Internal Revenue Code Section 7702 Definition of Life Insurance really mean?

Summary

The Consolidated Appropriations Act (CAA), which was passed at the end of 2020, contained changes to interest rate assumptions required within IRC Section 7702 Definition of Life Insurance. Learn more about the change and why it was necessary to help life insurance companies continue to ensure the financial security of millions of Americans.

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Meet the Project Director

Maureen Shaughnessy, FSA, MAAA

Maureen Shaughnessy joined LIMRA in 2017 and is responsible for the array of industry-wide experience studies done in conjunction with the Society of Actuaries (SOA) Research Institute. Studies focus on a broad range of life, health, and retirement products and analyze key product metrics including mortality, morbidity, and policyowner behavior experience. Prior to joining LIMRA, Maureen spent 14 years in various insurance company actuarial roles where she most recently directed the life and annuity experience analytics team.


Maureen earned her bachelor’s degree in Applied Mathematics from the University of Evansville. She is a member of the Society of Actuaries and the American Academy of Actuaries, and earned a certificate in Predictive Analytics through the SOA.

Senior Actuary - Experience Studies
LIMRA and LOMA
mshaughnessy@limra.com


For more information, please contact mshaughnessy@limra.com.

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