2005-2009 Guaranteed Issue and Simplified Issue Life Persistency Study
The Society of Actuaries and LIMRA have sponsored a U.S. Individual Life Guaranteed andSimplified Issue Persistency Study. The report, authored by Cathy Ho and Nancy Muise, represents the results of individual life insurance lapse experience for guaranteed issue and simplified issue life in the United States. Lapse experience for a subset of these data that is specified as pre-need life insurance is also reported. The data collected covers policy experience from 2005 to 2009. This study was based on data provided by 40 life insurance writers. The lapse experience is separated by guaranteed issue, pre-need, and simplified issue. Results for most key policy and product factors are examined.
To aid the reader in interpreting the information contained in this report, a spreadsheet providing exposure and lapse information by policy factor and data cell is also provided.
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