Life Statutory Reporting - Separate Accounts

This course focuses on the Separate Account concept and the types of products that use Separate Accounts.

We also identify the role of the Blue Book and Green Book in reporting for Separate Accounts and illustrates the typical flow of transactions between the General Account and Separate Account. In addition, this course describes, in detail, statutory Annual Statement Note 34 for Separate Accounts.

Learning Objectives

• Identify Separate Accounts attributes
• Apply the statutory accounting and reporting for Separate Accounts

CPE Credits: 1 hour in Accounting

Level: Basic

Prerequisites/Advance Preparation: None

NASBA Publication/Revision Date: May 2020

Content

• Separate Account attributes:
  • Separate Account concept
  • Products using Separate Accounts
  • The mix of industry assets in Separate Accounts
• Statutory accounting and reporting for Separate Accounts
  • Items in the Blue Book and Green Book
  • Blue Book Note 34
  • Illustration of variable annuity reporting