Individual Life Insurance Mortality Improvement Scale – for Use with AG38/VM20 - 2022

Authors

American Academy of Actuaries’ Life Work Group and the Society of Actuaries’ Mortality and Longevity Oversight Advisory Council

Description

The Mortality Improvement subgroup of the American Academy of Actuaries’ Work Group and the Society of Actuaries’ Mortality and Longevity Oversight Advisory Council released a recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes. This recommendation has been adopted by the NAIC’s Life Actuarial Task Force.

Under ‘Materials’, find the report that describes the mortality improvement scale and its intended use and the spreadsheet that contains the final version of the mortality improvement rates for year-end 2022.

Applicability of Improvement Scale

These improvement scales represent a view of reasonable historical and future mortality improvement factors for to be used in conjunction with AG 38 and VM20 for year-end 2022 valuation. These improvement scales are not intended to be employed as a standard for any other purpose.

Materials

Mortality Improvement Scale Recommendation
Mortality Improvement Scale Recommendation Rates

Questions Or Comments?

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