Edition

2015 Valuation Basic Report and Tables

The VBT Team has completed their work on the 2015 Valuation Basic Tables and associated Relative Risk (RR) Tables. These include male / female, smoker / nonsmoker and age-nearest birthday (ANB) / age-last birthday (ALB).

Updates:

  • 9/13/18 – Valuation Basic Table Report updated to add mortality improvement factors and excel file with mortality improvement factors added.
  • 3/13/18 – Valuation Basic Table Report added
  • 6/29/15 – Title of last column updated from “26” to “Ult.” in all ALB Relative Risk Tables
  • 6/29/15 – Age 95, duration 1 rate in the FNS ALB RR100 Relative Risk table updated from 108.90 to 113.49
  • 6/22/15 - Final Qx changed from 1,000 to 500 in Female NS ALB RR 175 table
  • 6/22/15 - Corrected Female Non-Smoker ANB tables; the version stored here were age-last-birthday tables since the attempted fix on 6/1
  • 6/1/15 - Final Qx changed from 1,000 to 500 in Female NS ALB RR 175 table 
  • 4/23/15 - Final Qx changed from 1,000 to 500

 

Materials

Report:

2015 Valuation Basic Table Report (updated 9/13/18)
The experience data underlying the 2015 VBT can be found on the “2009-2013 Individual Life Insurance Mortality Experience Report” webpage.

2015 VBT Preferred Wearoff Factors (Appendix F)

2015 VBT Mortality Improvement Factors (Appendix L)


Base Tables:

 

2015 VBT Unismoke ANB/ALB Tables

 

2015 VBT Smoker-Distinct ANB/ALB Tables


Relative Risk Tables:

 

2015 VBT Male Non-Smoker RR ANB Tables

 

2015 VBT Female Non-Smoker RR ANB Tables

 

2015 VBT Male Non-Smoker RR ALB Tables

 

2015 VBT Female Non-Smoker RR ALB Tables

 

2015 VBT Male Smoker RR ANB Tables

 

2015 VBT Female Smoker RR ANB Tables

 

2015 VBT Male Smoker RR ALB Tables

 

2015 VBT Female Smoker RR ALB Tables


Presentations:

The following presentations are being provided as background on the development of the 2015 VBT until the final formal report is available. There have been several changes to the 2015 VBT made subsequent to the creation of these presentations:

 

  1. Correction to the mortality improvement factors listed for improvement from 2009 to 2014 (and subsequently to 2015);
  2. Table improved from 2014 to 2015;
  3. Slight adjustments at the younger ages (as noted in the November presentation);
  4. Slight change in the preferred wear-off factors at oldest attained ages; and
  5. Corrections due to monotonicity checks.

 

Questions or Comments?

If you have any questions about this work, you may contact Patrick Nolan, SOA Experience Studies Actuary, at 847.273.8860 or pnolan@soa.org