Description: The primary purposes of the study are the following: 1. Compare recent industry experience for individual life waiver of premium (ILWOP) insurance products to the claim incidence and claim termination rates from the 1952 SOA Disability Table; 2. Analyze actual-to-expected (A/E) claim incidence and claim termination ratios across key segments such as gender, attained age, etc.; 3. Develop an illustrative experience basis for calculating policy and claim reserves based on the results from the A/E studies; and 4. Compare reserves calculated using experience assumptions to the reserves calculated using the 1952 SOA Disability Table for an illustrative cohort of ILWOP business.

Description: This article provides an alternative method to the computation of the Reduction in Benefits Test under 7702A. Part 1 provided for reduction in death benefits. Part 2 provides for reduction in Qualified Additional Benefits.

Description: Supporting Excel file for Mortality Improvement Trends, Independent Analysis on Socioeconomic and Other Drivers

Description: Mental health, suppoting policyholders

Description: ReFocus is an annual global conference for senior-level life insurance and reinsurance executives hosted jointly by ACLI and the Society of Actuaries (SOA). This event features top-notch speakers, thought-provoking sessions, and superior networking opportunities.

Description: This article discusses key considerations and differences in measurement requirements between IFRS 17 and LDTI, leveraging a term insurance example to illustrate potential impacts on liabilities and, ultimately, earnings emergence.

Description: The limited availability of life and protection cover for people living with certain serious health conditions is starting to become a critical issue for insurers. The public perception is that insurers simply don’t offer cover, or that it is difficult to source affordable, tailored cover. This article discusses the considerations when trying to improve access to insurance.

Description: The authors examine 19 factors to determine which were most closely linked to permanent and term life insurance premiums sold in the United States in 2020. With spatial regression analysis using multi-scale geographically weighted regression (MGWR) approach, the authors find the following 5 covariates to be the most statistically significant for and positively correlated with permanent insurance sold: household income, percentage of the population that is African American, education, health insurance, and Gini index (a statistical measure of wealth inequality)

Description: The SOA Research Institute engaged Milliman to perform a study examining life insurer practices on accelerated underwriting and how COVID-19 has impacted them. This effort included a separate outreach to actuaries working for twelve different state insurance departments. At the time of this report, three responses to our regulatory survey had been received. Therefore, the results of the three-question survey are discussed in broad terms, rather than using numerical measurements.

Description: Addendum to 2022 Cause of Death Report.