Description: After a sustained period of mortality improvement, U.S. population mortality improvement has stagnated in recent years. The presenters will discuss mortality improvement trends in the U.S. population and the causes of death contributing to these trends. U.S. population cause of death trends will be analyzed and compared to trends in the insured population. Mortality rates for major causes of death will be compared between the U.S. population and the insured population. In addition, assumption setting for both older age and later duration mortality as well as mortality improvement will be covered.

Description: Discuss changes in group life waiver of premium claim recovery and mortality experience since the 2005 table was released, the development of the 2023 table, and the new statutory valuation standard approved by the National Association of Insurance Commissioners (NAIC).

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 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: Experience report for life insurance policies with face amounts of $1 million or higher.

Description: 2021 Life Meeting - Session 7D: Emerging Trends in Lapse and Mortality for Life Products 9.1.21 Recording

Description: After years of discussion and debate, PrinciplesBased Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. This article discusses the benefits and challenges of the options available to small insurers under VM-20 as well as best practices that have been found along the way.

Description: Learn more about the predictive modeling that was applied to industry data for the lapse and mortality experience in the post-level term period. Novel approaches were taken to model the shock lapse, subsequent lapse, and mortality experience. Observe a demonstration of the Tableau tool, which was built to allow users to analyze data on their own.

Description: Experience report for life insurance policies with face amounts of $1 million or higher.