2009-13 US Individual Life Persistency Update
This report presents the results of the most recent study of individual life insurance lapse experience in the United States conducted jointly by LIMRA and the Society of Actuaries (SOA). The observation period for the study is calendar years 2009-13. The study is based on data provided by 16 individual life insurance writers and it presents lapse experience for whole life, term life, universal life and variable universal life plans issued between 1918 and 2012. This report includes results for most key policy and product factors. New to this report is an examination of lapse experience for joint-life plans, along with a more detailed analysis of lapse experience on universal life plans with secondary guarantees.
The Excel spreadsheet contains the supporting source lapse rates for figures within the U.S. Individual Life Insurance Persistency report. The data for this report, and the Excel spreadsheet, represent experience years 2009-13.
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