2023 Group Term Life Waiver Experience Table Report
6/26/2023 Update: The Reserve Factor Calculator has been updated to correct an error in which the formula for the death and recovery rates in duration 9 was using the ultimate rates rather than select rates.
Authors:
Jeremy Fleischer, FSA, MAAA
Jerry Holman, FSA, MAAA
Michael Krohn, FSA, CERA, MAAA
John Murphy, FSA, MAAA
Patrick Nolan, FSA, MAAA, SOA
Matthew Piccolo, ASA
Steve Rulis, FSA, MAAA
Patrick Wallner, FSA, MAAA
Description
This report documents the construction of the 2023 Group Life Waiver Experience Table, which is based on data from years 2006-2015. The Society of Actuaries Research Institute convened a subgroup of the Group Life Experience Committee to gather and analyze industry data as the basis for an experience table to serve as an update to the 2005 valuation table. U.S. Group Life companies were surveyed for this experience study, which resulted in the largest dataset of waiver experience ever collected.
Materials
2023 Group Term Life Waiver Experience Table Report
2023 Group Term Life Waiver Experience Tables and Reserve Factor Calculator
Webinar
Questions or Comments?
Give us your feedback! Take a short survey on this report. Take Survey
If you have comments or questions, please send an email to research@soa.org.