2014-2021 Credit Disability Study Data Request

We would like to invite your company to participate in a study of issue year data for Single Premium Credit Disability for 2017 and 2021. We are only requesting data for the issue years 2017 and 2021 to represent the midpoint and endpoint of this study, respectively. We will be using data we collected from the last study for the beginning point, specifically 2013.

This study is sponsored by the Society of Actuaries (SOA) Research Institute’s Credit Insurance Experience Committee. Hause Actuarial Solutions has been contracted to perform this study. A detailed experience study report with analysis and commentary will be made publicly available and will include nationwide averages of term of coverage, age at issue and yearly trends, as well as nationwide claim costs by benefit and yearly trends.

Please see the attached document below under “Materials” for instructions on data submission and format. The 2014-2021 data are due to Hause Actuarial Solutions by September 30, 2022. Please let us know whether your company will be participating in this study by responding to this email by July 29th.

This in-depth research is critically important in validating the current valuation standard for single premium credit disability insurance in VM-26 and recommending an updated valuation standard prospectively if dictated by the study.

Materials

2014-2021 Credit Disability Study Data Request

Questions Or Comments?

If you have any questions, please contact Korrel Crawford, SOA Research Institute Senior Research Administrator at kcrawford@soa.org or +1-847-706-3567.