Persistency

  • 1981 – SOA – Patterns in Persistency, tsa81v3310 – Society of Actuaries – 18p
  • 1995 12 – SOA – 1994-1995 Year in Review, The Actuary, act-1995-vol29-iss10-year-review – Society of Actuaries – 6p
    • SOA Research and the Life Insurance Marketing and Research Association (LIMRA) completed a report on universal life persistency results that have never before been published on an industry basis. Results are shown for several different policy, agent, insured, and product characteristics.
  • U.S. Individual Life Persistency
      • 2005 – SOA / LIMRA – U.S. Individual Life Persistency, us-indiv-life-persistency-report-final – Society of Actuaries – 49p
      • 2007 [Bonk: The  – SOA / LIMRA – U.S. Individual Life Persistency, research-2003-us-life-update – Society of Actuaries – 85p
      • 2009 – SOA / LIMRA – U.S. Individual Life Persistency, 2009-us-life-persistency-report – Society of Actuaries – 84p
      • 2009 – SOA / LIMRA – U.S. Individual Life Persistency, 2009-13-us-ind-life-persistency-update-report – Society of Actuaries – 119p
  • Policies which were sold on a “vanishing premium” basis are expected to exhibit a different payment pattern than those sold on other bases.
    • Thus, although a company can measure persistency, the appropriate standard to which this experience should be compared would be very difficult to determine.
    • The measurement of the persistency itself, however, will also present problems.
    • My company credits premiums as they are received, rather than on the subsequent policy monthaversary.
    • We send bills 15 days prior to the scheduled due date. If a policyholder receives a bill and pays prior to an anniversary due date, the premium will be recorded as received in the prior year.
    • Thus, measuring premium persistency by policy year for annually billed contracts will be very touchy.
    • A better approach may be to measure cumulative payment persistency.
    • This amount, however, is subject to guideline premium limits which must be anticipated.

—  James M. Robinson, Financial Actuary–Domestic Life and Health with Sentry Life Insurance Company

1983 – SOA – Universal Life (RSA83V9N212), Society of Actuaries – 24p