Description: This article is historical in nature and explores the impacts of traditional life insurance products offering cash surrender values. This article intended to show that by offering cash surrender value, insurance companies became less exposed to the risk of mis-estimated lapse assumptions. This article presents an illustrative case study to highlight this dynamic. This article also explores the issues with traditional life insurance products that arose in the 1970s and 1980 and led to the introduction of Universal Life in the U.S.

Description: Recently the interest rates have been slowly trending up from the lowest point in August 2020. The focus of this article is on current market trends for long-duration products —including life insurance, annuities, and long-term care insurance —following an extended period of low interest rates, and lessons carriers can learn from similar historical periods of rising interest rates. Innovative and flexible product features will continue to be essential, as the current interest trend may not substantially increase insurers’ portfolio rates. When designing or modifying product features, insurers should consider profitability in a wide breadth of interest rate scenarios and be particularly mindful of the impact that crediting rates and asset durations will have on earnings.

Description: A look back over 20 years to see how product topics of the day have changed and remained the same.

Description: A high-level summary of the results of Munich Re's recent Accelerated Underwriting Survey

Description: The paper describes a cost-benefit analysis to determine the value of electronic health records (EHRs) in life insurance accelerated underwriting programs. Sample cases from a carrier were underwritten pre-EHR and post-EHR and the mortality savings estimates from risk class changes using EHRs was compared to procurement costs. Results were developed to cover a range of scenarios. Factors to consider for carriers evaluating the cost-effectiveness of using EHRs in their own accelerated underwriting programs are also described.