The session will begin with an overview of the emerging experience in the post level period and the key drivers of that experience. Analysis of the impact of this experience on profitability and ways to manage the resulting profitability will next be addressed. Audience interaction will be expected as the presenters will be well-prepared to address questions and comments from the audience.

Panelists discuss recent trends in the effects of mortality and lapse rates on term life insurance. The discussion includes: • Theories predicting the impact lapse rates have on mortality after the level premium period • Recent industry studies on mortality and lapses • The impact lapse and mortality rates have on profits

Answers common questions surrounding the individual life study and how to participate

The emergence of principle-based reserve and capital requirements, as well as the development of more complex insurance products with embedded guarantees, has led to increasing scrutiny and importance of experience studies and assumption setting processes.

This session will address evolving practices and topics such as: • Assumption setting/approval/governance processes • How assumptions may vary across actuarial applications • Development of prudent margins • Development and interaction of policyholder behavior assumptions • What to do when credible experience does not exist. At the conclusion of the session, attendees will be able to create a robust assumption setting and governance process, develop financial modeling assumptions, and accurately apply them across a range of actuarial applications.

In this session, experts will discuss the issues and trends seen in the life insurance market from a new business and product development perspective. A review of the market activity in the past year, as well as insights into what the future may hold, will be provided. Recent developments in term, traditional fixed universal life (UL), indexed UL, variable UL and whole life will be explored. Topics to be presented may include, but not be limited to, sales, economic and regulatory environments, product design, underwriting and risk management.

Slides from session number 18PD at the 2007 Valuation Actuary Symposium, held September 17-18 in Austin, Texas. The panelists discuss policyholder behavior assumptions in the context of Principle- Based Reserves, ‘PBR.’ Topics include background such as the standard valuation law and valuation manual, the work of the American Academy of Actuaries and others in supporting PBR, including developing actuarial standards of practice. As the PBR approach currently stands, prudent estimate assumptions, including those for policyholder behavior, are used in determining reserves. Modeling considerations for policyholder behavior assumptions are discussed for various products.

Report on the Lapse and Mortality Experience of Post-Level Premium Period Term Plans

Instructions for contributing policyholder behavior data to the 2005-2007 experience study

This Insights Into the Pricing of Policyholder Behavior Related Assumptions Seminar 2011 session on Lapses Topics include: Experience by – Product, Face Amount band, Gender, Risk class, Distribution channel Do higher lapses imply higher mortality? Lapses on premium financed policies