Description: The purpose of this analysis is to provide a practical set of changes to the incidence rate modifiers of the 2013 Individual Disability Income Valuation Table to reflect recent industry individual disability income (IDI) claim experience trends from 2005 through 2015. The goal is to have resulting 2005-2015 experience-based incidence modifiers in a workable format to facilitate its use.

Description: The Society of Actuaries (“SOA”) Health Section engaged Milliman, Inc. to conduct a study of group long-term disability (“LTD”) benefit offsets, which Milliman first performed for the SOA in 2008 and reported in July 2009. As with the earlier study, the 2012 Study investigates the percentages of LTD claimants who are receiving disability benefits from sources that offset their LTD benefits, the level of these offset benefits relative to pre-disability earned income and how they are affected by the duration of disablement, age at disablement, gender, industry, state of residence and medical conditions causing the disability. In addition, the 2012 Study investigates the distribution of Social Security approval dates by duration of disablement.