2021-2022 Fixed Indexed Annuity Policyholder Behavior Experience Study
Table of Contents
Summary
Public Materials
Standard Data Package
Secure 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 indexed annuity policyholder behavior. Twelve companies contributed data to this Study, which encompasses about 4.8 million surrender exposure by contract count, $526 billion surrender exposure by contract value, over 227,000 surrenders, and $15.9 billion in withdrawals in the 2021 to 2022 observation years.
The results include comparisons to several expected bases of policyholder behavior, including the current valuation standard, and can be used by actuaries in the management of their own fixed indexed annuity business.
Public Materials
A report with high level insights by sex and attained age group and a data visualization dashboard are available in the links below.
Fixed Indexed Annuity Policyholder Behavior 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
- additional credibility metrics
- ability to download detailed data from the study
Secure 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.
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Package Options |
for participants |
for non-participants |
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Report with detailed results |
✓ |
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Tableau dashboards of industry results including data table |
✓ |
✓ |
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New metrics/analyses |
✓ |
✓ |
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Tableau comparison of own results to industry |
✓ |
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Peer group analysis |
✓ |
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Discussion with researcher |
✓ |
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Pricing discount |
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Access the Standard Data Package
If you have purchased the Standard Data Package, you can access it using the link below:
Acknowledgments
LIMRA and the SOA Research Institute would like to thank the following companies for participating in the study by supplying data.
- American Equity
- American National
- Athene Annuity & Life Assurance
- Bankers Life & Casualty (CNO)
- Converge Re
- Global Atlantic Financial Group
- MassMutual
- Nassau
- Nationwide Life
- Protective
- Sammons Financial Companies (Midland National and North American Company)
- Security Benefit Life
LIMRA and the SOA Research Institute would also like to thank the SOA Fixed Indexed Annuity 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)
- Ilan Birnbaum, FSA, MAAA
- Mary Ann Borrelli, FSA, MAAA
- Jeff Chuang, FSA, MAAA
- Bruce Friedland, FSA, MAAA
- Kunal Kang, FSA, MAAA
- Laurie Li, FSA, MAAA, CERA
- Yifan Zhang, FSA, MAAA
Questions?
Contact us with questions, StudyPro@soa.org.