The course explores advanced actuarial topics such as multi-decrement theory, multi-state transition models, profit testing, pension mathematics, and retirement benefits. It places a strong emphasis on practical applications within the life insurance industry, examining areas such as disability income insurance, long-term care, critical illness insurance, workers' compensation, continuing care insurance, and universal life insurance. Additionally, the course delves into the complexities of embedded options in life insurance and annuity products, providing students with in-depth knowledge of how these concepts are applied in real-world scenarios. This course is the last in the three-course series for life contingencies, following ACT247H1 and ACT348H1.