Edition

2015-2022 Fixed Rate Deferred Surrender Data Request

The Society of Actuaries (SOA) Research Institute’s Individual Annuity Experience Committee (IAEC) and LIMRA are soliciting surrender experience for fixed rate deferred annuity data for the years 2015 through 2022.

The SOA Research Institute and LIMRA are partnering together to complete industry experience studies. Under this partnership, the SOA Research Institute’s IAEC and LIMRA plan to complete an update to the Deferred Annuity Persistency Study previously completed in 2006 and covering experience for calendar years 2002-2004. The goals of this update are to:

  • compare 2015-2022 fixed rate deferred annuitant surrender experience with the prior experience from the 2002-2004 study;
  • provide a much-needed update to the study of fixed rate surrender experience to assist companies in setting assumptions, designing, pricing, valuing, and managing the risk of fixed rate deferred annuities;
  • provide more current surrender experience for the development of Principles-Based Reserving for fixed annuities; and
  • analyze fixed rate surrender experience in a rising interest rate environment.

Please see attached documents for instructions on data submission and format. The 2015-2022 data are due to LIMRA Secure Retirement Institute by May 31, 2023.

The following may be included in the outputs made available for purchase:

  • detailed experience study report with analysis and commentary;
  • a set of data visualization dashboards with the ability to filter on and drill down into the detail of the results of the study;
  • dataset(s) containing the aggregated experience collected for the purpose of this study. The datasets may be made available in excel files, text files or downloads from the data visualization tool;
  • models or other tools developed to support the analyses completed in the study; and
  • other outputs as determined by the SOA Research Institute and LIMRA.

For more information, please refer to the attached data submission instructions and feel free to contact us with any questions.

Materials

2015-2022 Fixed Rate Deferred Surrender Data Request

2015-2022 Fixed Rate Deferred Surrender Product & Rider Info

Questions Or Comments?

If you have any questions, please contact Korrel Crawford, SOA Research Institute Senior Research Administrator at kcrawford@soa.org or +1-847-706-3567.