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2019 Universal Life with Secondary Guarantees Survey

The Joint Risk Management Section is trying to develop better estimates of policyholder behavior in the tail (PBITT). The mission of the PBITT working group is to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios.

As part of its work, the PBITT working group issued a survey that gathered the range of assumptions actuaries use in pricing, reserving, and risk management of UL with Secondary Guarantees.  

Report

2019 Universal Life with Secondary Guarantees Survey Summary

Thank You

Thanks to the members of the PBITT working group for their help in issuing and reviewing the survey:

Jim Reiskytl, Chair
Cliff Angstman
Peter Bondy
Dale Hagstrom
Stephen Hodges
Timothy Paris
Eric Swan
Josh Windsor
Steven Siegel, SOA Sr. Practice Research Actuary
Barbara Scott, SOA Sr. Research Administrator

Special thanks to Dale Hagstrom and Meinaloshyani Viruthasalam for their analysis and drafting the report.  The working group gratefully acknowledges all of the companies that participated in the survey.

Questions or Comments

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