2015-2022 Term and Whole Life Lapse and Surrender Experience Study Data Request

The Society of Actuaries Research Institute (SOA) and LIMRA are soliciting surrender and lapse experience for individual Term and Whole Life policies for calendar years 2015 through 2022 to be used to complete a 2015-2022 Term and Whole Life Lapse and Surrender Experience Study (Study).

The SOA Research Institute and LIMRA are partnering together to complete this industry experience study of whole life and term lapse and surrender rates. The experience will be analyzed by various sub-segments of the data, such as sex, product type, 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 and whole life block management.

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 2015-2022 experience data is due to LIMRA by May 31, 2024.

For more information, please refer to the attached data submission instructions and feel free to contact us with any questions.

Materials

2015-2022 Term and Whole Life Lapse and Surrender Experience Study Data Request

Questions Or Comments?

If you have any questions, please contact StudyPro@soa.org.