Description: Future mortality improvement has been a common assumption in life insurance and annuity pricing and forecasting for many years. However, experience over the last decade suggests this might be an assumption that merits reconsideration in the United States. This article will take a closer look at factors that impact mortality improvement trends and discuss why insurers may want to reevaluate product designs to better manage the associated mortality risk. We then introduce a product idea with this in mind, where premiums are based on a life expectancy index and insurers share the risk (and opportunity) or mortality improvement with policyholders.

Description: This report covers the U.S. intercompany mortality experience by amount of life insurance under standard individually underwritten issues between 1988 and 1989 anniversaries. The report also combines experience between 1984 and 1989 so that broader comparisons can be made for males vs. females, smoker vs. nonsmoker, and medical vs. nonmedical issues.

Description: Table of Contents of the 1973 Reports of Mortality and Morbidity Experience.

Description: The Group Life COVID-19 Mortality Survey gathers a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic through June 2023, as compared to prior period baseline mortality results. This new report is an update to the survey report released in May 2023, which contained data through December 2022.

Description: This report covers the U.S. intercompany mortality experience by amount of life insurance under standard individually underwritten issues between 1989 and 1990 anniversaries. The report also combines experience between 1985 and 1990 so that broader comparisons can be made for males vs. females, smoker vs. nonsmoker, and medical vs. nonmedical issues.

Description: Ronald Fawthrop and Brian Holland of the SOA’s Individual Life Experience Committee provided a preview of an upcoming individual life mortality study at the SOA’s Life and Annuity Symposium on May 9, 2017. Their presentations are available here.

Description: 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.

Description: Recommendation for a set of improvement factors to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table

Description: This article details different methods for calculating mortality impact associated with new underwriting programs. A common simplified calculation is compared and contrasted with two first principles approaches. The strengths and weaknesses of both approaches are discussed.

Description: Table of contents for the 1972 Reports of Mortality and Morbidity Experience.