Book excerpt: Actuarial Aspects of Individual Life Insurance and Annuity Contracts provides a comprehensive overview of the features and financial aspects of traditional, indexed, and variable products and their related rider benefits. Product development, pricing, financial reporting methods, and regulatory requirements are addressed for all products, including those with derivative-based guarantees. This provides an introduction to actuarial techniques and the relationships among various financial values for the student and provides a comprehensive summary of current practices on more recent products for the experienced actuary. Spreadsheets are available on the ACTEX website to demonstrate profit testing alternatives.