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Notas: Sumario: The article examines the guarantee dilemma in the insurance industry: management teams gain short-term rewards by selling long-term guaranteed products, while the real costs surface decades later and fall on future teams. Historical cases such as Equitable Life, AIG, and The Hartford show how misaligned incentives, behavioral biases, and weak governance lead to underestimated risks. The text also highlights modern versions of the dilemma, including asset-intensive reinsurance and participating products in Asia. It concludes by urging actuaries to take a stronger role-challenging underpriced risks, improving governance structures, and applying rigorous modelling, stress testing, and product lifecycle planning to secure long-term sustainabilityRegistros relacionados: En: The Actuary : the magazine of the Institute & Faculty of Actuaries. - London : Redactive Publishing, 2019-. - 02/02/2026 Number 7 - February 2026 , p. 46 - 49Materia / lugar / evento: Productos de seguros Tarificación Infraseguro Cálculo de probabilidades Ciclo de vida del producto Outras classificações: 6

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