Description: The recent release of the RP-2014 Mortality Table and Scale MP-2014 exposure drafts represent the SOA’s first comprehensive reexamination of U.S. pension-related mortality assumptions in over a decade. This paper summarizes the key conclusions reached in those exposure drafts and the estimated financial impact of adopting the new mortality assumptions.

Description: Introduction to longevity insurance, including product design and a market overview

Description: Identifies current trends and considerations when setting the mortality improvement assumption for individual life insurance in the US.

Description: Panelists discuss the characteristics of and impediments associated with effective management of the long term care insurance market, particularly as it related to pricing, marketing, and underwriting. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: This article delves into a new line of statistical thinking of the author, that may be useful for product development actuaries. The key concept is how product design can produce products that diversify quickly, meaning that the company can be confident of a profitable product line, based on fewer sales than might be true for other designs.

Description: Read the September 2016 issue of Pension Section News published by the The Pension Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Trends in mortality have a huge impact on the insurance industry and its products, risks and profitability. Worldwide, life expectancy has increased continuously over the past decades. However, this progress—even without considering the Covid-19 pandemic—has been subject to strong fluctuations. In recent years, an increase in volatility can be observed. Various aspects—medical science, environment, lifestyle—have influenced the trend in the past. How can the life and health industry move forward in these uncertain conditions? In this article, we examine what has gone before and what can be learned from a closer analysis. What are the main drivers of the historical increase in life expectancy? What characterizes the dynamics of the recent past? How can mortality be projected into the future? How good are our methods of prediction and what are the risks? What risk management options are available?

Description: This article presents the needed mathematical techniques and obtains values for active life expectancies in which dependent lives are followed after regaining independence. Secondly, projections of active life expectancies are developed to the year 2080, under three sets of assumptions, for 65 year old men and women. Finally, estimates of the average numbers of years of dependency in ADL prior to death of 65 year old men and women are provided under alternate sets of assumptions. From the Actuarial Research Clearing House 1991 VOL. 2.

Description: Women have different resources and experiences than men in retirement, partly due to demographic and life cycle differences and partly due to societal practices. This article reviews the differences, the situation 25 years ago, and then compares the situation 25 years ago to the situation today. Some of the big long lasting issues are differences in life spans and periods of disability, differences in pay, different shares of caregiving responsibility and differences of time out of the workplace. It finds some things that have improved, but other issues that existed 25 years ago have still not been addressed. New issues have arisen. The article draws on a presentation given at the 25th anniversary of the Women’s Institute for a Secure Retirement (WISER). It also focuses on the impact of COVID and the changes that have taken place in the workplace in the last few years. It provides insights into and discussions of the pros and cons of remote and hybrid work arrangements. It provides insights into issues that still need to be addressed.

Description: 'This article compares the insurance industry's mortality experience for Japan, Korea, China and Taiwan. The industry's mortality experience that has been analyzed includes the variables of age, policy year, and gender.' From International News, August 2011.