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almostASA
09-23-2008, 09:44 AM
Since I've never used them, and I don't work in life insurance anyway, I'm having trouble distinguishing between the two SOA group life tables described in the readings. Ch. 29 of Group Insurance discusses the "2006 study" and the study note 102-07 discusses a "2005 study" and in both readings the studies are described as mortality studies using experience from 1999 - 2001. At first I thought one was a typo and they were the same, but the SOA website actually does list the "2005 Group Term Life Waiver Reserve Table Report" and the "2006 Group Term Life Mortality & Morbidity Study."

Can anyone explain what a "waiver reserve table" is, and if/how it relates to a mortality table?

Thanks!

actexp
09-23-2008, 10:18 AM
typical group life table is probability of death, used for group term life. if one goes out on disability while covered under group life, typical benefit is that premium is waived and coverage continued for the disabled person. Therefore, one needs to value, eg charge a reserve for this claimant, so need a table of mortality/recovery from a disabled state. I've been away from this for a few years, so not familiar with current studies, but from names i strongly suspect that this is what they are.