Mortality and Other Rate Tables

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Table Information


Table Identity 2429
Provider Domain limra.com
Provider Name LIMRA International, Inc.
Table Reference Cathy Ho and Nancy Muise, “U.S. Individual Life Insurance Persistency, A Joint Study Sponsored by LIMRA International and the Society of Actuaries”, Society of Actuaries and LIMRA (2009) Accessed: October, 2013 from https://www.soa.org/resources/experience-studies/2005-2009/2004-2005-ind-life-persistency/
Content Type Termination Voluntary
Table Name 2004-2005 Individual Life Persistency Study – 20 YLT
Table Description 2004-2005 Individual Life Persistency Study – 20 Year Level Term Insurance by Number of Policies AND by Face Amounts. Basis: Total. Minimum Policy Duration: 1. Maximum Policy Duration: 11
Comments Study Data: The observation period for the study is calendar years 2004 and 2005. The study is based on data provided by 39 individual life insurance writers and it presents lapse experience for whole life, term life, universal life, and variable universal life plans issued between 1902 and 2004. Of these participants, 33 provided whole life data, 36 provided term data,32 provided universal life data, and 18 provided variable universal life data. Lapse includes termination for nonpayment of premium, insufficient cash value, or full surrender of a policy, transfer to reduced paid-up or extended term status, and in most cases, terminations for unknown reason. Methodology: Lapse rates are calculated as follows: Annualized Policy Lapse Rate = 100 x Number of Policies Lapsed During the Year / Number of Policies Exposed to Lapse During the Year. The number of policies exposed to lapse is based on the length of time the policy is exposed to the risk of lapsation during the year. Lapses contribute exposure for the full 12 months. Terminations due to death, expiry, maturity or conversion are not included in the amounts lapsing and contribute to exposure for only the fraction of the year they were in force. Experience is reported exactly as calculated. No attempt was made to graduate or smooth results. Data Transcription Errors: None. Data Certified: 10/2013

Table Data
Table Description 2004-2005 Individual Life Persistency Study – 20 Year Level Term Insurance by Number of Policies. Basis: Total. Minimum Policy Duration: 1. Maximum Policy Duration: 11
Nation United States of America
Scaling Factor 0
Data Type Floating Point
   
Table Values
Row\Column1
10.051
20.054
30.047
40.047
50.044
60.031
70.031
80.028
90.026
100.03
110.034
Table Description 2004-2005 Individual Life Persistency Study – 20 Year Level Term Insurance by Face Amounts. Basis: Total. Minimum Policy Duration: 1. Maximum Policy Duration: 11
Nation United States of America
Scaling Factor 0
Data Type Floating Point
   
Table Values
Row\Column1
10.04
20.045
30.04
40.042
50.043
60.03
70.033
80.029
90.029
100.032
110.038