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Life Product Services

Life Product Services is one of the leading term product development consultants to life insurance companies operating in the U.S. The team consists of experienced product development professionals including Fellows of the Society of Actuaries, with years of experience focused on the term insurance market in the U.S.

The term market is highly competitive, with price leaders constantly updating products. Life insurance companies face challenges in maintaining their product portfolios, including limited internal resources, resources stretched across product lines, and difficulty staying current with market trends and changes. When one or more of these factors exists, many life insurance companies turn to the RGA Life Product Services team.

The RGA team can help clients develop competitive retail rates and faster market entry for their term product portfolio. By working with RGA’s Life Product Services team, clients gain access to:

  • Global mortality, underwriting, actuarial and technology expertise
  • Analysis and validation of underlying assumptions on mortality, lapses, expenses, commissions and distributions
  • Broad market exposure—RGA quotes on hundreds of term products each year
  • Flexible product ideas, customized to clients’ markets
  • Fully guaranteed retail rates for the life of the product
  • Access to our proprietary Term Insurance Pricing Index for the latest market research and competitive analysis
  • Development of actuarial memorandums for regulatory filings
  • RGA’s commitment to meet the needs and deadlines of its clients. The RGA team knows how important it is to meet deadlines

On an ongoing basis, we are committed to:

  • Regularly updating clients’ product portfolios
  • Providing analysis of actual vs. expected results
  • Benchmarking clients’ products against those of their competitors
Life Product Services is compensated through reinsurance, so clients incur no out-of-pocket expenses. This arrangement converts potential fixed product development costs to variable costs, and aligns RGA’s interests directly with those of its clients.