2017 Universal Life with Secondary Guarantees Survey Summary

July 2017

The Joint Risk Management Section is trying to develop better estimates of policyholder behavior in the tail (PBITT). The mission of the PBITT working group is to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios.

As part of its work, the PBITT working group issued a survey that gathered the range of assumptions actuaries use in pricing, reserving, and risk management of UL with Secondary Guarantees.

Materials

Report

2017 Universal Life with Secondary Guarantees Survey Summary

Podcast

Thank You

Thanks to the members of the PBITT working group for their help in issuing and reviewing the survey:

Jim Reiskytl, Chair
Cliff Angstman
Peter Bondy
Dale Hagstrom
Stephen Hodges
Timothy Paris
Jeremy Wang
Josh Windsor
Steven Siegel, SOA Research Actuary
Barbara Scott, SOA Sr. Research Administrator

Special thanks to Jeffrey Hartman for his analysis and drafting the report. The working group gratefully acknowledges all of the companies that participated in the survey.

Questions Or Comments?

If you have comments or questions, please send an email to research@soa.org.