Valuation/Illustration Reports, Tables, and Tools

The Society of Actuaries Research Institute offers a variety of valuation/illustration materials for use by actuaries. Table reports are often accompanied by Excel workbooks with complimentary materials. Tools include the Relative Risk Tool and the Academy’s Economic Scenario Generator referenced in the Valuation Manual.

Tools

• Relative Risk Tool
• Economic Scenario Generators

Tables & Reports

2024

• Individual Life Insurance Mortality Improvement Scale – for Use with AG38/VM20 – 2024
  September
  The Mortality Improvement Life Working Group of the SOA Research Institute’s Mortality and Longevity Oversight Advisory Council released a recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes. This recommendation has been adopted by the NAIC’s Life Actuarial Task Force.
  
•  
• 2025 GRET Recommendation
• August
• The SOA’s Committee on Life Insurance Company Expenses (CLICE) has submitted its recommendation for the 2025 Generally Recognized Expense Table (GRET) for use with individual life insurance sales illustrations.

2023

• Individual Life Insurance Mortality Improvement Scale – for Use with AG38/VM20 – 2023
• September
•  
• 2024 GRET Recommendation
  August
  The SOA’s Committee on Life Insurance Company Expenses (CLICE) has submitted its recommendation for the 2024 Generally Recognized Expense Table (GRET) for use with individual life insurance sales illustrations.
•  
• 2023 Group Term Life Waiver Experience Table Report
  June
  This report documents the construction of the 2023 Group Life Waiver Experience Table, which is based on data from years 2006-2015.

2022

•  
• Individual Life Insurance Mortality Improvement Scale – for Use with AG38/VM20 - 2022
  October
•  
• 2023 GRET Recommendation
  August
•  
• Process to Determine if a VBT Update is Required
  March
  The VBT Analysis Subgroup of the Joint Academy Life Experience Committee and SOA Preferred Mortality Oversight Group recommends the approach documented in this report for determining when there is sufficient change in the emerging actual mortality experience relative to the current VBT to warrant changes to the table.

2021

•  
• Long-Term Care Insurance Mortality and Lapse Study
  December
•  
• Individual Life Insurance Mortality Improvement Scale Recommendation – for Use with AG38/VM20 - 2021
• October
•  
• 2022 GRET Recommendation
  August

2020

• Individual Life Insurance Mortality Improvement Scale Recommendation – for Use with AG-38 and VM-20 – 2020
  October
• 
  August
• 2021 GRET Recommendation
  August

2019

• Individual Life Insurance Mortality Improvement Scale Recommendation – for Use with AG 38 and VM 20 - 2019
  October
• 2020 GRET Recommendation 
  August

2018

• Individual Life Insurance Mortality Improvement Scale Recommendation – for Use with AG 38 and VM 20 - 2018 
  December
• 2019 GRET Recommendation 
  August

2017

• Mortality Improvement Rates for AG-38 for Year-End 2017 
  December
• 2018 GRET Recommendation
  September
• 2017 Simplified Issue Composite Mortality Tables
  August

2016

• Mortality Improvement Rates for AG-38 for Year-End 2016
  September
• 2017 GRET Recommendation
  September
• 2016 Cancer Claim Cost Valuation Tables
  August
• 2013 Individual Disability Income Valuation Table
  August
• 2013 Individual Disability Insurance Valuation Table and Supporting Materials
  January

2015

• Mortality Improvement Rates for AG-38 for Year-End 2015
  December
• 2016 GRET Recommendation
  August
• 2015 Principle-Based Reserving (PBR) Margins – Exposed
  July
• 2017 Commissioner’s Standard Ordinary (CSO) Tables
  July
• 2015 Valuation Basic Report & Tables - Updated 9.13.18
  April
• 2014 Valuation Basic Table (VBT) & Relative Risk (RR) Tables - Beta Versions
  February

2014

• Mortality Improvement Rates for AG-38 for Year-End 2013
  December
• Mortality Improvement Rates for AG-38 for Year-End 2014 (Corrected 1.22.15)
  December
• 2015 GRET Recommendation
  July

2013

• Group Long-Term Disability 2012 Valuation Table
  December

2011

• 2012 Individual Annuity Reserving Report & Table
  September

2008

• Valuation Table Team Report and Workbook for the June 2008 NAIC LHATF Meeting
  May
• 2008 Valuation Basic Table (VBT) Report & Tables
  March

2006

• 2001 CSO Preferred Class Structure Mortality Report & Tables
  January

2005

• Final Report of the Individual Life Insurance Valuation Mortality Task Force 2001 Valuation Basic Mortality Table (2001 VBT)
  April

2002

• 2001 CSO Task Force Report
  June

2000

• Report of the Task Force to Recommend Morbidity Standards for Valuation of Credit Disability
  November

1999

• The Report of the Individual Subcommittee of the Task Force to Recommend Statutory Morbidity Standards for Individual and Group Disability Benefits
  May