2001 Individual Life and Annuity Expense Study
Experience Studies – Individual Life
The Committee on Life Insurance Expenses has completed the 2001 Individual Life and Annuity Expense study. The complete report and accompanying tables can be accessed below.
This updated version of the study reflects a revision to the unit cost calculations for First Year Commission Percent and Percent of First Year Premium. The purpose of the revision was to correct how Dump– In Premiums were incorporated into the calculations. The revision impacted the results of the Permanent Life (Table 2) and Variable Life (Table 3) products as well as Total Weighted Averages for Life Products (Table 4). In addition, the formulas shown in Section 3 for First Year Commission Percent and Percent of First Year Premium have been revised to reflect the update.
If you have any questions or comments regarding the report, please contact Steve Siegel, Research Actuary.
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