Report on the Survey of Older Age Mortality And Other Assumptions

The Product Development Section is pleased to make available a new research report into the mortality and other actuarial assumptions for life and long term care insurance products sold at older ages. Authored by Tim Rozar, Catie Muccigrosso and Susan Willeat of RGA Reinsurance Company, the report summarizes the results of a company survey examining the following topics:.

  • Product designs and sales trends by age
  • Underwriting requirements at older ages
  • Mortality assumptions at older ages including selection factors, mortality level, preferred discounts and mortality improvement
  • Lapse assumptions
  • Comparisons between fully underwritten life insurance and long-term care insurance

The Sponsor would like to thank the companies that participated in the study as well as the following individuals who served on the Project Oversight Group:

Ronora Stryker, SOA Research Actuary, Chair
Rick Bergstrom
Lilian Cheung
Henry Egesi
Jean-Marc Fix
Scott Haglund
Anna Hart
Vera Ljucovic
Sean O’Connell
Patrick O’Rourke
Richard Plush
Ed Song
Robbie Wu
Ross Zilber
Ron Ziegler
Jan Schuh, SOA Sr. Research Administrator