Mortality Comparisons and Risk Exposures in the Older Age U.S. Financial Services Market

Research Projects – Life Insurance

The Reinsurance Section, Pension Section's Research Team and Committee on Life Insurance Research are pleased to make available a new research report examining mortality expectations between life insurance, annuity, and pension products at older issue ages. Authored by William Bowman and Roger Freeman, the report summarizes the results of a mortality and pricing survey indicating significant differences between the mortality assumptions for different product lines and even between different companies within a single product line. The authors further discuss the potential impacts these mortality differences may have on managing the risk assumed for these products.

The sponsors would like to thank those companies participating in the survey and the following individuals who served on the Project Oversight Group:

  • Clark Himmelberger, Chair
  • Gavin Benjamin
  • Ing Chian Ching
  • Jean-Marc Fix
  • Jeff Harper
  • Edward Hui
  • Sebastian Kleber
  • Jack Luff, SOA
  • Stephen Manly
  • Jan Schuh, SOA
  • Ronora Stryker, SOA

If you have questions or comments on this research, please contact Ronora Stryker, SOA Research Actuary, at