Description: The SOA has conducted a mortality study covering deferred annuities, both fixed and variable. This is a brand new area of analysis for the SOA's Individual Annuity Experience Committee and should be of critical interest to the industry. Previous industry annuitant mortality studies have focused on payout annuities, as well as the specialized structured settlement annuity market. Traditionally, mortality had not been seen as a critical assumption for deferred annuities. As the products have evolved over time, especially with the popularity of enhanced death benefits for variable annuities and guaranteed living benefits for both variable and fixed annuities, mortality has taken on increased importance. The results of this study have recently taken on even greater significance, as regulators are seeking mortality assumptions for the standard projection scenario for VM-22 (fixed annuities), as well as a potential update to those assumptions in VM-21 (variable annuities). By attending the session, you will: - Understand how deferred annuitant mortality compares with established annuitant mortality tables. Note that annuitant mortality tables, including the most recent 2012 tables, were developed based on payout annuitant mortality experience. - Become aware of the differences in mortality experience between fixed and variable annuities. - Gain insights into the effect of various guaranteed benefits on anti-selection and subsequent annuitant mortality, both for death benefits and living benefits. - Understand the durational aspects of emerging mortality experience, particularly for deferred annuities with guaranteed benefits.

Description: The Individual Annuity Experience Committee of the Society of Actuaries has completed an experience study of individual payout annuities, covering calendar years 2009 through 2013. View the 2009-13 Individual Payout Annuity Experience Pivot Tables - Individual contract duration year.

Description: Discuss policyholder behaviors that evolve throughout the life cycle of a typical VA annuitant, with supporting data from industry-level experience studies during this interaction session. The following behavior assumptions and their implication under accounting/regulatory requirements will be covered: - Separate account/fixed account allocation and transfers - Deposits - Surrenders - Withdrawals - Income utilization - Mortality By attending the session, you will: - Identify policyholder behaviors that would transform at different stages of life cycle. - Understand key aspects of industry-level policyholder behavior experience. - Form a dynamic view in the assumption setting.

Description: This study examines the persistency of deferred annuities on a contract anniversary basis for 1992 and 1993 anniversaries. One purpose of this study is to analyze the surrender activity of deferred annuities by selected product, customer, and distribution characteristics. This study is the first to examine surrender activity of all types of deferred annuities.

Description: This data request is for a study focusing on surrender/lapse, withdrawal, living benefit utilization, annuitization, and premium deposit experiences. The study aims to provide detailed analysis and insights into fixed indexed annuity contract activities.