Description: Panelists discuss recent trends in the effects of mortality and lapse rates on term life insurance. The discussion includes: • Theories predicting the impact lapse rates have on mortality after the level premium period • Recent industry studies on mortality and lapses • The impact lapse and mortality rates have on profits

Description: This session from the 2003 Washington D.C. Spring Meeting discusses a variety of risks that need to be considered in pricing life and annuity products. This session also reviews the results of the Risk Management Task Force Survey including how companies were measuring profit, how they were reflecting risk in pricing, how results were analyzed and how specific risks were being modeled. From the Record of the Society of Actuaries, Volume 29, No. 1, Session 7PD.