Have term life prices risen enough?

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      <subfield code="a">Have term life prices risen enough?</subfield>
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      <subfield code="a">Companies should continue to work with regulators to expedite the transition to PBA for setting capital and reserve requirements. The costs of excess reserves continue to place a strain on many life insurers. By quantifying company-specific risks with respect to individual products, PBA reduces the need to hold excess reserves. But, as noted above, although PBA will be of great help, it is no panacea. Principles-based reserves will likely be higher than economic reserves. Moreover, because PBA is intended to apply only to new business, the industrys collateral requirements will continue to grow for years to come, even with PBA. The industry might also consider encouraging regulators and legislators to make principles-based reserving retroactive to the year 2000. These steps will help to reduce some of the capital pressures that life companies face. We believe that  in view of the ongoing market uncertainty and the need for a sustainable business model, term prices should continue to rise </subfield>
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