Announcement: SOA releases passing candidate numbers for May 2020 Exam SRM.

Announcement: Access the latest SOA updates on COVID-19 at SOA.org/covid-19.

Due to unusually high email volume in Customer Service, you may experience a longer response time than usual. We apologize for any inconvenience this may cause.

Substandard Annuities Report

Research Projects – Life Insurance


By: LIMRA International (Mathew Drinkwater, Joseph Montminy, Eric Sondergeld)
Ernst & Young(Christopher Raham, Chad Runchey)

Within the income annuity marketplace, there is a growing interest in offering annuities on an underwritten basis. Known as substandard or "age-rated" annuities, they are designed to offer a greater payout to those individuals who present a lesser longevity risk. Jointly sponsored by LIMRA International and the Society of Actuaries' Product Development Section and the Committee on Life Insurance Research in collaboration with Ernst & Young, this report describes substandard annuity products and discusses the market opportunity for them, the associated risk management issues, and the issues companies address when competing in this market.

Substandard Annuities Report

Thank You

The SOA would like to thank the following members of the Project Oversight Group for their valuable contribution to this project:

  • Noel Abkemeier, Chair
  • John Have
  • Harold Ingraham Jr.
  • Robert Hupf
  • Robert Ozenbaugh
  • Michel Perreault
  • Ronald Ziegler
  • Jan Schuh, SOA staff
  • Ronora Stryker, SOA staff

Questions Or Comments?

If you have comments or questions, please send an email to research@soa.org.