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: This article provides a description of the development process for the 2003 GRET factors. The results were also presented and discussed.

Description: This report presents a new set of select and ultimate expected individual life insurance lapse tables, based on inter-company experience of standard ordinary business between 1971-1972 policy anniversaries. Discussion includes overview of how the data was collected and how the tables were constructed and how they should be applied in practice.

Description: Data call for the upcoming Group Term Life Experience Study, which will cover 2007 to 2009. This is a long-standing experience study of the SOA. The results are used by companies to update pricing, and in the past, the IRS has used results to update Table I rates, which determine imputed income related to group term life employer plans.

Description: In this introductory session, we set the stage for the Symposium’s entire ElderTech track. We’ve seen increasing technology adaptation by the elderly in many areas of their lives, including socializing, health care, mobility, home monitoring, insurance, investing and financial planning. Panelists will provide an overview of the current state of ElderTech and how they believe it will evolve in the short and long term. Panelists will also discuss the problems ElderTech is trying to solve, consumer pain points and why ElderTech has become so important recently.

Description: Panelists from the home-based care industry will discuss the latest technology and services that enable and prolong the receipt of formal and informal care at home for the elderly and delay transitions to care facilities.

Description: General Session VI

Description: Critical factors to consider as we age include where we live, who we interact with, how we get the help and support we need when we need it, and how our health care is organized and delivered. Underlying this is how we finance the cost of specialized housing, care and support. Some communities are age-friendly where we can obtain supportive services, others are not. Some people choose to live in senior housing which integrates support services, others choose to live in the community among people of all ages. Some health care systems are well designed to meet the needs of older people, others are not. The cost of living for older adults, considering all of these factors, varies by community. Explore more about the perspective of older adults, how communities have structured to meet their needs, and how society as a whole is becoming aware of and addressing a growing aging population.

Description: U.S. population death statistics and trends often occupy COVID-19 briefings and daily headlines. There are also publicly available mortality data sources for actuaries and others to perform their own analysis. Yet industry studies examining the impact of COVID-19 on insured populations are in their infancy. In this webcast, presenters will provide insights into how the life insured population is faring during COVID-19 by discussing the findings from two recent SOA research initiatives. LIMRA, RGA Reinsurance, the Society of Actuaries and TAI have collaborated on an effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience. Additionally, the SOA has surveyed insurers to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic and comparing them to pre-pandemic mortality levels.

Description: The Society of Actuaries Research Institute (SOA) and LIMRA are soliciting surrender and lapse experience for individual Term and Whole Life policies for calendar years 2015 through 2022 to be used to complete a 2015-2022 Term and Whole Life Lapse and Surrender Experience Study (Study).