Experience Studies
Studies Available for Purchase Now
2015-2021 Universal Life Lapse and Surrender Experience Study (November 2023)
LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of universal life lapse and surrender data. Twenty-four individual companies representing approximately 80% of the market contributed a robust set of universal life insurance policy owner behavior experience data for this study. About 33.5 million policy-years of exposure, $8.5 trillion in face amount exposure, and 1.3 million lapse terminations have been cleansed, summarized and analyzed.
2019-2021 Variable Annuity Contract Owner Behavior Experience Study (November 2023)
LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of variable annuity contract owner behavior. Fifteen companies contributed data to the current study, encompassing approximately 64% of industry new sales and 61% of industry assets in force during the period of the study. The current study of 2019-2021 observation years contains about 10.5 million contract count exposed to surrender, $1.4 trillion in contract value exposed to surrender, and over 500,000 surrenders. It also contains data on 3.7 million contract withdrawals and $41 billion in contract value withdrawn, which have been cleansed, summarized and analyzed. The results include analyses of withdrawal rates, surrender rates, and additional premium deposited and can be used by actuaries in the management of their own variable annuity business.
Fixed Indexed Annuity Contract Owner Behavior Study (August 2023)
LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of fixed indexed annuity contract owner behavior. Seventeen parent company groupings covering 20 individual companies and representing 64% of industry new sales and 61% of assets in force contributed a robust set of fixed indexed annuity contract owner behavior experience data for this study. About 4.9 million surrender exposure by contract count, $503 billion surrender exposure by contract value, over 195,000 surrenders, and $13.7 billion in withdrawals have been cleansed, summarized and analyzed in the 2019 to 2020 observation years. The results include analyses of withdrawal rates, surrender rates, and additional premium deposited and can be used by actuaries in the management of their own fixed indexed annuity business.
Payout Annuity Mortality Study (December 2022)
This experience study examines individual payout annuity mortality experience for calendar years 2014 through 2019. The study is based on an analysis of about 4.3 million contract-years of exposure, $33.6 billion annual income-years of exposure, and over 236,000 deaths over the six-year study period. The previous study encompassed about 4.5 million contract-years of exposure, $26.8 billion annual income-years of exposure, and over 230,000 deaths over a five-year study period.