2014-2019 Individual Payout Annuity Mortality Experience Study
Table of Contents
Summary
Public Report
Standard Data Package
Video Overview
Purchase the Standard Data Package
Benefits of Study Participation
Access the Standard Data Package
Acknowledgments
Summary
LIMRA and the Society of Actuaries (SOA) Research Institute have completed the most up-to-date study of individual payout annuity mortality. Twenty-five companies representing 80% of the market contributed a robust set of payout annuity mortality experience data for this study. About 4.3 million contract-years of exposure, $33.6 billion in annual income-years of exposure, and over 236,000 deaths have been cleansed, summarized, and analyzed. The results include comparisons to several expected bases of mortality, including the current valuation standard, and can be used by actuaries in the management of their own payout annuity business.
Public Report
A report with high level insights is available below.
Payout Annuity Mortality Report pdf (revised 1/2023)
Standard Data Package
The Standard Data Package is available for purchase and consists of:
- executive summary
- in-depth analysis report
- interactive data visualization dashboards
- advanced filtering by age, sex, and additional dimensions
- additional credibility metrics
- ability to download detailed data from the study
Video Overview
An overview of the material in the Standard Data Package can be viewed here.
Purchase the Standard Data Package
Ready to place your order for the detailed study results now?
The order form will ask for the name of a contact from your organization. After the form is submitted, someone from SOA customer service will reach out to your contact to obtain the information we need to give employees at your company access to the standard data package.
Benefits of Study Participation
If your company participated in the study by supplying data, it will receive several benefits in the Standard Data Package versus other entities who did not participate.
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Package Options |
for participants |
for non-participants |
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Report with detailed analysis of results |
✓ |
✓ |
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Tableau data visualization presenting aggregated industry results including data table option |
✓ |
✓ |
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New metrics/analyses |
✓ |
✓ |
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Tableau data visualization that presents a comparison of own results to industry |
✓ |
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Peer group comparisons |
✓ |
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Discussion and review of results with researcher |
✓ |
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Pricing discount |
✓ |
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Access the Standard Data Package
If you have purchased the Standard Data Package, you can access it here.
Acknowledgments
LIMRA and the SOA Research Institute would like to thank the following companies for participating in the study by supplying data.
- Guardian Life of America
- Lincoln National
- Massachusetts Mutual
- MetLife
- Mutual of America
- Nassau Life and Phoenix Life
- Nationwide Life
- New York Life
- Northwestern Mutual Life
- Pacific Life
- Principal
- Prudential Financial
- Sammons Financial Companies (North American Company and Midland National)
- Standard
- State Farm
- Talcott Resolution (Talcott Resolution Life and Talcott Resolution Life and Annuity)
- Thrivent
- TIAA
- USAA
- Western & Southern (Western & Southern Assurance, Integrity Life, National Integrity Life)
LIMRA and the SOA Research Institute would also like to thank the SOA Individual Annuity Experience Committee for their diligent work developing the data request, overseeing the analysis and reviewing of the report and dashboards for accuracy and relevance.
- Joel Sklar, ASA, MAAA (Chair)
- Tom Kukla, FSA, MAAA (Vice-Chair)
- Julie Campo, FSA, MAAA
- Cindy Chen, FSA, MAAA
- John Dizer, FSA, MAAA
- Brent Dooley, FSA, MAAA
- Stephen Gruber, FSA, MAAA
- Josh Kendrach, FSA
- David Park
- Peretz Perl, FSA, MAAA
- Larry Stern, FSA, MAAA
- Hai You, FSA, MAAA
Questions?
Contact us with questions at StudyPro@soa.org.