The Society of Actuaries’ Product Development Section, Financial Reporting Section, and the Committee on Life Insurance Research announce the release of a new study that will provide a resource for life insurers on the prevalence of companies’ assumptions for waiver of premium/monthly deduction riders. Authored by the Milliman team of Jennifer Fleck and Paul Correia, the research results include assumptions being used for mortality, pricing, and valuation in order to help enhance practices in supporting and managing this benefit. The survey will also assist companies as they prepare for determining reserves and capital under a principal-based framework.
Survey of Waiver of Premium/Monthly Deduction Rider Assumptions and Experience
The Sponsors would like to thank the companies that participated in the study and the following individuals who served on the Project Oversight Group:
Thomas P. Edwalds—Chair
James M. Filmore
James S. Hawke
Ronora Stryker, SOA Research Actuary
Jan Schuh, SOA Sr. Research Administrator
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