Description: The Society of Actuaries and LIMRA have sponsored a Variable Annuity Guaranteed Living Benefit Utilization Study. This study is an annual update of earlier investigations conducted since 2006.

Description: This study and report have the following primary purposes: 1. Evaluate recent mortality experience relative to standard industry mortality tables, at a broad level. 2. Observe general trends in mortality experience by key policy characteristics. Where possible, provide insights into the industry changes contributing to the observed trends. 3. Provide the underlying data in spreadsheet pivot table format for further investigation by qualified actuaries. Provide data also in a delimited text file and Tableau dashboards for use with other software tools.

Description: The VBT Analysis Subgroup (“Subgroup”) of the Joint Academy Life Experience Committee and SOA Preferred Mortality Oversight Group (“Joint Committee”) recommends the approach documented in this report for determining when there is sufficient change in the emerging actual mortality experience relative to the current VBT to warrant changes to the table.

Description: This report explains the concept and construction of the Market Consistent Embedded Value (MCEV) measure, as well as its usefulness as a profit/risk measure relative to other profit/risk measures currently used by insurance companies for various products. The knowledge from this research will assist actuaries, corporate leadaers, risk management professionals and others in understanding, implementing and comparing MCEV to current risk assessment tools utilized by insurance companies.

Description: Authored by a MIB Solutions team of Tom Rhodes, Stuart Klugman, Marianne Purushotham and Stacy Gill, the report summarizes the results of a study on the application and adoption of credibility theory within the life insurance and annuity industry. In addition to the report, numerical examples related to the application of credibility to company mortality and lapse data are provided in the four Excel files. This excel spreadsheet is a numerical example relating to the application of Credibility for mortality - Limited Fluctuation Method. Please see the SOA website research section for the full report on Credibity Theory Practices.

Description: This overview shows considerations for consumers when reviewing the Life and Annuity Living Benefit Riders study.

Description: This report summarizes industry mortality experience for the period 2009 - 2016. This report is updated on a mostly annual basis and based on information aggregated from industry VM-51 submissions

Description: Situated at the intersection of psychology, neuroscience, sociology, and economics, behavioral economics (BE) centers on applying an honest understanding of human behavior to practical problems. This report is designed to provide general familiarity to the reader interested in the subject of BE and motivate additional research on the topic.

Description: LIMRA, Reinsurance Group of America (RGA), the Society of Actuaries (SOA), and TAI have collaborated on an ongoing effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience and share the emerging results with the insurance industry and the public. The Individual Life COVID-19 Project Work Group (Work Group) was formed as a collaboration of LIMRA, RGA, the SOA, and TAI to design, implement, and create the study and to produce and distribute a variety of analyses. This report is the fifth public release from this collaboration and contains the results of a cause of death analysis focused on how the rates of death for various causes were impacted throughout the pandemic period through the first quarter of 2021.

Description: A literature review was performed on mortality improvement, socioeconomic differences in mortality and their links to specific causes of death, and methods for analysis. It highlighted the fact that socioeconomic status (e.g., income and education) is closely linked to differences in mortality and that the longevity gap between socioeconomic groups is growing over time. It also informed the selection of key variables and the need to view mortality improvement as a complex interaction between specific causes of death.