Description: The ‘grieving widows effect’, or the ‘broken heart syndrome’ as it is often referred to, is the phenomenon whereby the chances of dying are elevated immediate following the loss of a partner. Using data from Club Vita we explore this effect. We identify that it has a material impact (c. 50bp) on the pricing and reserving for annuities and pension liabilities with an attaching annuity payable to a spouse who outlives the original policyholder. This is particularly the case in times of low net discount rates or for substantial attaching annuities.

Description: The presenters will highlight differences in mortality that result from socioeconomic issues. Topics will include the differences in cause-specific mortality among different socioeconomic classes, trends in these gaps over time, and recommendations for reducing inequalities in life expectancy in the future.

Description: The presenters will explore the current state of the North American mortality baseline and long-term improvement assumptions and determine what we can learn from the UK's approach. They will share research done by the Society of Actuaries and other organizations to describe how to build a better model, plus show the impact socio-economics and other factors have on longevity expectations. The presenters will offer suggestions for how U.S. and Canadian pension plan and insurance actuaries--and the industry itself--can best use this research to develop a better model for the risk management of pension plans and group annuities