Variable Annuity Guaranteed Living Benefits Utilization Study - 2012 Experience
The Society of Actuaries and LIMRA have sponsored a Variable Annuity Guaranteed Living Benefit Utilization Study. This study is an annual update of earlier investigations conducted since 2006.
The study examines the GLB utilization of over 4.6 million contracts that were either issued during or in force as of 2012. Twenty-two insurance companies participated in this study. These twenty-two companies make up 71 percent of all GLB elected sales in 2012 and 75 percent of GLB assets at year end, and thus provide a substantial representation of this business.
The SOA and LIMRA would like to thank the Project Oversight Group for their valuable contribution to this project.
Tim Cardinal, Chair
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