Announcement: SOA congratulates the new ASAs and CERAs for November 2024.

2021-2022 Fixed Indexed Annuity Policyholder Behavior Experience Study

Experience Studies PRO, SOA Search Institute and LIMRA

Table of Contents

Summary
Public Materials
Standard Data Package
Secure the Standard Data Package
Benefits of Study Participation
Access the Standard Data Package
Acknowledgments

Summary

LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of fixed indexed annuity policyholder behavior. Twelve companies contributed data to this Study, which encompasses about 4.8 million surrender exposure by contract count, $526 billion surrender exposure by contract value, over 227,000 surrenders, and $15.9 billion in withdrawals in the 2021 to 2022 observation years.

The results include comparisons to several expected bases of policyholder behavior, including the current valuation standard, and can be used by actuaries in the management of their own fixed indexed annuity business.

Public Materials

A report with high level insights by sex and attained age group and a data visualization dashboard are available in the links below.

Fixed Indexed Annuity Policyholder 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, sex, and additional dimensions
  • additional credibility metrics
  • ability to download detailed data from the study

Secure the Standard Data Package

Ready to place your order for the detailed study results now? 

Order Standard Data Package

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 receive several benefits in the Standard Data Package versus other entities who did not participate.





Package Options


Standard Data Package

for participants


Standard Data Package

for non-participants

Report with detailed results

Tableau dashboards of industry results including data table

New metrics/analyses

Tableau comparison of own results to industry

 

Peer group analysis

 

Discussion with researcher

 

Pricing discount

 

Access the Standard Data Package

If you have purchased the Standard Data Package, you can access it using the link below:

Standard Data Package

Acknowledgments

LIMRA and the SOA Research Institute would like to thank the following companies for participating in the study by supplying data.

  • American Equity
  • American National
  • Athene Annuity & Life Assurance
  • Bankers Life & Casualty (CNO)
  • Converge Re
  • Global Atlantic Financial Group
  • MassMutual
  • Nassau
  • Nationwide Life
  • Protective
  • Sammons Financial Companies (Midland National and North American Company)
  • Security Benefit 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)
  • Ilan Birnbaum, FSA, MAAA
  • Mary Ann Borrelli, FSA, MAAA
  • Jeff Chuang, FSA, MAAA
  • Bruce Friedland, FSA, MAAA
  • Kunal Kang, FSA, MAAA
  • Laurie Li, FSA, MAAA, CERA
  • Yifan Zhang, FSA, MAAA

Questions?

Contact us with questions, StudyPro@soa.org.