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2023-2024 Fixed-Rate Deferred Surrender Data Request

The Society of Actuaries (SOA) Research Institute’s Individual Annuity Experience Committee (IAEC) and LIMRA are soliciting surrender experience for fixed-rate deferred annuity data for the years 2023 through 2024.

The SOA Research Institute and LIMRA are partnering together to complete industry experience studies. Under this partnership, the SOA Research Institute’s IAEC and LIMRA plan to complete an update to the Fixed-Rate Deferred Surrender Experience Study previously completed in 2024 and covering experience for calendar years 2015-2022.  The goals of this update are to:

  • compare 2023-2024 fixed-rate deferred annuitant surrender experience with the prior experience from the 2015-2022 study;
  • provide more current surrender experience for the development of Principles-Based Reserving for fixed annuities, assist companies in setting assumptions, designing, pricing, valuing, and managing the risk of fixed-rate deferred annuities; and
  • analyze fixed-rate surrender experience in an up-to-date interest rate environment.

Please see attached documents for instructions on data submission and format.

The 2023-2024 data are due to LIMRA Secure Retirement Institute by April 11, 2025.

In an effort to ensure these important industry studies can be funded on a sustainable basis, the SOA Research Institute and LIMRA are offering the detailed outputs of this work as part of a paid subscription to Experience Studies Pro.

The following may be included in the outputs made available for subscribers:

  • detailed experience study report with analysis and commentary;
  • a set of data visualization dashboards with the ability to filter on and drill down into the detail of the results of the study;
  • dataset(s) containing the aggregated experience collected for the purpose of this study. The datasets may be made available in excel files, text files or downloads from the data visualization tool;
  • models or other tools developed to support the analyses completed in the study; and
  • other outputs as determined by the SOA Research Institute and LIMRA.

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

Materials

2023-2024 Fixed-Rate Deferred Surrender Data Request

2023-2024 Fixed-Rate Deferred Surrender Product & Rider Info

Questions Or Comments?

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