2009-2023 Term Conversion Incidence and Post-Conversion Mortality and Lapse Experience Study Data Request
The Society of Actuaries Research Institute (SOA) and LIMRA are collecting company experience for a Term Conversion Incidence and Post-Conversion Mortality and Lapse Experience Study (Study) for the years 2009 through 2023.
The SOA Research Institute and LIMRA are partnering together to complete this industry experience study of conversion experience (conversion rate as well as post-conversion mortality and lapse) of individual life term policies. The experience will be analyzed by various sub-segments of the data, such as sex, level term length, conversion privileges, policy year, study year, issue age, and face amount. The Study will include sufficient detail for companies to be able to understand how their experience compares to the industry. This experience may augment each company’s own experience analysis, improve communication of results to senior management, and improve internal term life management, as well as management of permanent products to which term products can convert.
A basic report will be publicly available and provide users with a high-level overview of broad experience trends in the industry. The detailed Study results will be made available in a ‘Standard Data Package’ for a fee. The Standard Data Package may include a detailed Study report and a data visualization tool providing cross-segmentation capabilities. The data visualization tool would allow for the maximum amount of detail of Study results to be viewed and downloaded, while ensuring company confidentiality and data privacy is protected.
The 2009-2023 experience data is due to LIMRA by September 30, 2024.
For more information, please refer to the attached data submission instructions and feel free to contact us with any questions.
Materials
Term Conversion Experience Study Data Call - Product Info
Questions Or Comments?
If you have any questions, please contact StudyPro@soa.org.