2009-13 Lapse/Surrender and Premium Persistency Experience for Flexible Premium Universal Life Products
September 2018
This report presents the results of a joint study conducted by the Society of Actuaries and LIMRA examining both premium persistency and surrender/lapse experience for flexible premium fixed universal life (“UL”), indexed universal life (“IUL”) and variable universal life (“VUL”) products. This work represents the first industry study of flexible premium life insurance premium persistency experience, a key risk impacting the profitability of both secondary guarantee products as well as products that are marketed and sold for traditional protection and savings accumulation purposes.
Materials
Report
Podcast
Questions Or Comments?
For any questions regarding this study, please contact Patrick Nolan, SOA Experience Studies Actuary, at +1-847-273-8860 or pnolan@soa.org.