2015-2022 Fixed Rate Deferred Surrender Experience Study
Table of Contents
- Summary
- Public Materials
- Standard Data Package
- 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 fixed rate deferred annuity surrender experience. Twenty-three companies contributed data to the current study, encompassing approximately 45% of fixed rate deferred annuity market share during the period of the study. The current study of 2015-2022 calendar years contains about 13.4 million contract count exposed, $1.0 trillion in contract value exposed, and over 900,000 surrenders. The results include analysis of surrender rates and can be used by actuaries in the management of their own fixed rate deferred annuity surrender business.
Public Materials
A report with high level insights available in the links below.
Fixed Rate Deferred Surrender Report
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
- ability to download detailed data from the study
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 receive several benefits in the Standard Data Package versus other entities who did not participate.
Access the Standard Data Package
After purchasing the data package, you can access the standard data package here.
Acknowledgments
LIMRA and the SOA Research Institute would like to thank the following companies for participating in the study by supplying data.
- American Equity
- Athene Annuity & Life
- Brighthouse Financial
- CNO (Bankers Life & Casualty)
- Everlake Life
- Fidelity & Guaranty Life
- Global Atlantic Financial Group
- Guardian
- Nassau Financial
- New York Life
- OneAmerica
- Pacific Life
- Protective
- Prudential
- Reliance Standard
- Riversource/Ameriprise
- Sammons (Midland National/NAC)
- Securian
- Security Benefit Life
- Talcott Resolution Life
- The Standard
- TruStage
- USAA
LIMRA and the SOA Research Institute would also like to thank the SOA Fixed Rate Deferred Surrender Subcommittee 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)
- Rhonda Ahrens, FSA, MAAA
- Ilan Birnbaum, FSA, MAAA
- Mary Ann Borrelli, FSA, MAAA
- Jeff Chuang, FSA, MAAA
- Siksha Dhar, FSA, MAAA, CERA
- Stephen Gruber, FSA, MAAA
- Rachel Hochberg, FSA, MAAA
- Kunal Kang, FSA, MAAA
- Laurie Li, FSA, MAAA, CERA
Questions?
Contact us with questions, StudyPro@soa.org.