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Actuarial

Report on the Survey of Older Age Mortality and Other Assumptions

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Mortality at older ages has been an increasingly important issue for new products and profitability of current products. The Product Development Section Council of the Society of Actuaries (SOA) engaged RGA to undertake a research project into the mortality and other actuarial assumptions for products sold at older ages. 

The project included coverage of the following topics: 

  • Product designs and sales trends by age 
  • Underwriting requirements at older ages 
  • Mortality assumptions at older ages including selection factors, mortality level, preferred discounts and mortality improvement 
  • Lapse assumptions 
  • Comparisons between fully underwritten life insurance and long-term care insurance 


Posted with permission of the ©Society of Actuaries, Schaumburg, Illinois.
 

 


Download "Older Age Mortality"

The Authors

  • Timothy L. Rozar
    FSA, CERA, MAAA
    Chief of Staff
    Reinsurance Group of
    America, Incorporated
  • Catie Muccigrosso
    FALU, FLMI, ARA, ACS
    Executive Director,
    Underwriting

    RGA
  • Susan Willeat
    Vice President and 
    Managing Actuary
    Pricing
    RGA 
Download "Older Age Mortality"
  • experiences for lapses
  • Long-Term Care
  • LTC
  • mortality assumptions
  • mortality experience
  • mortality trends
  • old-age mortality
  • older age mortality
  • policy lapse
  • post-level premium period lapse
  • Product Development
  • SOA
  • Underwriting