2019-2020 Fixed Indexed Annuity Contract Owner Behavior Experience Study
Table of Contents
Video Overview
Summary
Public Report
Standard Data Package
Purchase the Standard Data Package
Benefits of Study Participation
Access the Standard Data Package
Acknowledgments
Video Overview
An overview of the material in the Standard Data Package can be viewed here.
Summary
LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of fixed indexed annuity contract owner behavior. Seventeen parent company groupings covering 20 individual companies and representing 64% of industry new sales and 61% of assets in force contributed a robust set of fixed indexed annuity contract owner behavior experience data for this study. About 4.9 million surrender exposure by contract count, $503 billion surrender exposure by contract value, over 195,000 surrenders, and $13.7 billion in withdrawals have been cleansed, summarized and analyzed in the 2019 to 2020 observation years. The results include analyses of withdrawal rates, surrender rates, and additional premium deposited and can be used by actuaries in the management of their own fixed indexed annuity business.
Public Report
A report with high level insights are available in the links below.
Fixed Indexed Annuity Contract Owner Behavior Report
Standard Data Package
The Standard Data Package is available for purchase and consists of:
- executive summary
- in-depth analysis report
- interactive data visualization dashboards
- advanced filtering by age, contract year, and additional dimensions
- ability to download detailed data from the study
Purchase the Standard Data Package
Ready to place your order for the detailed study results now?
The order form will ask for the name of a contact from your organization. After the form is submitted, someone from SOA customer service will reach out to your contact to obtain the information we need to give employees at your company access to the standard data package.
Benefits of Study Participation
If your company participated in the study by supplying data, you receive several benefits in the Standard Data Package versus other entities who did not participate.
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Package Options |
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for non-participants |
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Report with detailed analysis of results |
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Tableau data visualization presenting aggregated industry results including data table option |
✓ |
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New metrics/analyses |
✓ |
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Tableau data visualization that presents a comparison of own results to industry |
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Peer group comparisons |
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Discussion and review of results with researcher |
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Pricing discount |
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Access the Standard Data Package
If you have purchased the Standard Data Package, you can access it here.
Acknowledgments
LIMRA and the SOA Research Institute would like to thank the following companies for participating in the study by supplying data.
- AIG Companies
- American Equity
- Athene Annuity & Life Assurance
- CNO (Bankers Life & Casualty)
- Global Atlantic Financial Group
- Nassau Re
- National Life Group
- Nationwide Life
- Pacific Life
- Protective
- Prudential Financial
- Sammons Financial Companies (Midland National and North American Company)
- Securian
- Security Benefit Life
- Standard
- Symetra
- Western & Southern Group (Columbus Life, Integrity Life, Lafayette Life)
LIMRA and the SOA Research Institute would also like to thank the SOA Fixed Indexed Annuity Subcommittee for their diligent work developing the data request, overseeing the analysis and reviewing of the report and dashboards for accuracy and relevance.
- Joel Sklar, ASA, MAAA (Chair)
- Dana Lipperman, FSA, MAAA
- Ilan Birnbaum, FSA, MAAA
- Mary Ann Borrelli, FSA, MAAA
- Siksha Dhar, FSA, MAAA, CERA
- Laurie Li, FSA, MAAA, CERA
- Yifan Zhang, FSA, MAAA
Questions?
Contact us with questions, StudyPro@soa.org.