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2017 Guaranteed Issue Mortality Tables

September 2018 Update: The Guaranteed Issues tables with the 75% loadings were adopted by the NAIC on 08/07/2018 for use with guaranteed issue life insurance policies, as defined in VM-01, Definitions, of the Valuation Manual, in accordance with requirements of Valuation Manual Section II, Reserve Requirements and VM-02, Minimum Nonforfeiture Mortality and Interest.

The Joint Academy of Actuaries’ Life Experience Committee and Society of Actuaries’ Preferred Mortality Oversight Group’s Guaranteed Issue/Simplified Issue/Preneed Working Group has developed a definition and a set of unloaded and loaded mortality tables for guaranteed issue business.  Unloaded, select and ultimate (S&U) tables for male and female on an age-last birthday basis were developed.  Loaded, ultimate rates for male, female and gender-blended business on age-last and age-nearest bases were also developed. All rates in the tables are on a unismoke (or composite) basis. See the links to the definition, report and the tables (in Excel format).

Note, some values in the Ultimate and Gender-Blended Mortality Tables Excel file have been updated since this file was originally published in December 2016. Some of the values in this file were changed in March 2017 and a description of the changes is contained in the updated file. However, if a user had previously downloaded the original December 2017 version and then tried to download the updated March 2017 version between March 2017 and June 15, 2017, the original December 2017 version may have been downloaded due to a caching issue. This caching issue was addressed on June 15, 2017. Users should re-download the file below (indicated by “updated June 2017”) to ensure that they have the version with the March 2017 updated values. The version available in pdf format on the NAIC website has had the correct values since it was exposed in March 2017.

The 2017 Guaranteed Issue Mortality Tables with 55%, 65% and 75% loadings, added in May 2018, and the 2017 Guaranteed Issue Gender-Blender Mortality Tables with a 75% loading, added in July 2018, can be found in the xls files below.

Report

Guaranteed Issue Definition

 

2017 Guaranteed Issue Mortality Tables Report

 

Unloaded, S&U Male Mortality Table

 

Unloaded, S&U Female Mortality Table

 

Ultimate and Gender-Blended Mortality Tables (updated June 2017)

2017 Guaranteed Issue Mortality Rates with 55% Loading (added May 2018)

 

2017 Guaranteed Issue Mortality Rates with 65% Loading (added May 2018)

 

2017 Guaranteed Issue Mortality Rates with 75% Loading (added May 2018)

Ultimate and Gender-Blended Mortality Tables with 75% Loading (added July 2018)