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Table Identity
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1149
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Provider Domain
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soa.org
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Provider Name
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Society of Actuaries
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Table Reference
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American Academy of Actuaries CSO Task Force, “Final Report of the American Academy of Actuaries’ Commissioners Standard Ordinary Task Force”, American Academy of Actuaries, (2002). Appendix A. Accessed January, 2013 from http://dev.actuary.org/files/CSO_taskforce_appendix_a_june2002.xls
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Content Type
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Insured Lives Mortality
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Table Name
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2001 VBT Select and Ultimate - Male Nonsmoker, ANB
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Table Description
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2001 Valuation Basic Table (VBT) Select and Ultimate Table - Male Nonsmoker. Basis: Age Nearest Birthday. Minimum Select Age: 0. Maximum Select Age: 100. Minimum Ultimate Age: 25. Maximum Ultimate Age: 120.
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Comments
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Study Data: The 2001 Valuation Basic Tables (VBT) are based on the 1990-1995 Basic Tables that were developed by the Society of Actuaries’ (SOA) Individual Experience Studies Committee. The 1990-1995 Basic Tables are based on the mortality experience collected annually by the SOA over the years 1990-1995 for companies that participated in the study. Additional data from other sources was used to supplement the 1990-1995 Basic Tables at young and old ages where the experience data was sparse. The mortality was projected to the year 2001 using recent mortality improvement trends. Methodology: The first step in developing the 2001 VBT utilizing the 1990-95 Basic Mortality Tables was the creation of composite (combination of smoker, nonsmoker and those with smoking status unknown) tables for each of male and female lives. A 25-year select period was chosen. At younger and older issue ages, per the data, the effect of selection wore off in less than 25 years thus mortality rates for the remainder of the select period were set equal to the ultimate mortality rates for the corresponding attained age. The 1990-1995 Basic Tables were graduated to provide the smoothness necessary for a valuation table A two-dimensional Whittaker-Henderson Type B graduation method was employed to ensure smoothness; note this graduation method is different from the Jenkins fifth-difference interpolation used in the development of the 1980 Commissioners Standard Ordinary (CSO) Table. The type of loading formula employed is however similar to that used to develop the 1980 CSO Tables: an inverse function of the curtate expectation of life. The loadings above age 100 were modified so that the load produced by the formula at age 100 was linearly graded to zero at age 120. The projection of annual male mortality improvement in the is 0.0 percent at attained ages 0-45, grading to 1.0 percent at attained ages 55-80, and grading back to 0.0 percent at attained ages 90+. The annual female mortality improvement is 0.0 percent at attained ages 0-45, grading to 0.5 percent at attained ages 55-85, and grading back to 0.0 percent at attained ages 90+. NOTE: nonsmoker and smoker splits are not applicable for juvenile ages. Accordingly, rates from the corresponding composite tables are printed for those ages. Data Transcription Errors: None: Data Certified: 01/2013.
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