Long-Term Care Insurance Mortality and Lapse Study

Author

Long-Term Care Valuation Work Group of the American Academy of Actuaries and the Society of Actuaries Research Institute

Description

The Long-Term Care Valuation Work Group of the American Academy of Actuaries and the Society of Actuaries Research Institute have released a report to replace the mortality and lapse bases for statutory minimum reserves. The Work Group defined the base mortality table to be the 2012 Individual Annuity Mortality Table. Development of mortality margins and the lapse assumption were based on the 2000-2011 SOA/LIMRA LTC Voluntary Lapse and Mortality Experience Study.

This report presents the recommended mortality and lapse tables and describes the methodology and process in developing these tables.

Materials

Long-Term Care Insurance Mortality and Lapse Study Report

LTC Valuation Work Group Presentation to NAIC HATF

Questions or Comments?

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