Description: This paper summarizes the results of a survey of waiver of premium/monthly deduction rider assumptions and experience.

Description: Sponsored by the Society of Actuaries Reinsurance Section and the Product Development Section, this study is a sequel to the SOA report, Life Reinsurance Treaty Construction, published in 2013. The report examines industry perspectives on recapture provisions.

Description: The Individual Life Experience Committee has completed their latest report on intercompany mortality experience by amount of insurance under standard individually underwritten issues. This includes study years 2009-2016.

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: 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: View the Social and Other Determinants of Life Insurance Demand

Description: The Required Minimum Distribution (“RMD”) Working Group of the Society of Actuaries’ Taxation Section has completed new research identifying considerations for actuaries and annuity insurers in determining the actuarial present value of additional benefits for computing required minimum distributions under a deferred annuity contract. The paper discusses types of benefits covered under Treasury Regulation Section 1.401 (a)(9)–6, Q&A–12 as well as possible assumptions and methods for calculating the actuarial present values of additional benefits provided under an annuity contract. The appendices show examples for a variety of additional benefit types. EXCEL spreadsheets for the appendices are also provided. The discussion presented in the paper and the examples are provided for educational purposes and are not to be viewed as an authoritative interpretation of Q&A–12.

Description: LIMRA, Reinsurance Group of America (RGA), the Society of Actuaries (SOA) Research Institute, 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. This report documents a high-level analysis of the claims that have been reported.

Description: The report discusses using behavioral science in redesigning life insurance underwriting questionnaires to improve disclosure rates. It includes an experimental study, industry survey insights, and discussions on application forms, behavioral science application, and organizational engagement with behavioral science in the insurance industry.

Description: The Mortality Improvement Life Working Group released a recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes.