Description: As more term insurance policies move to the post-level period, actuaries are evaluating policyholder behavior and expected mortality. Enough experience has now emerged to provide a spectrum of outcomes that can model the relationship between premium increases, persistency and mortality. The presenters will share findings and consider how different post-level premium structures produce different results.

Description: The Canadian Institute of Actuaries (CIA) and Society of Actuaries (SOA) engaged RGA Reinsurance Company (RGA) to undertake a research project on level premium term life insurance products with a particular focus on the magnitude and impact of the “shock lapse” at the end of the level premium period. This project is similar to the SOA-sponsored research completed by RGA in 2014 for USA business.