Life Claim Costs

Question 1

Life Claim Costs

Group Considerations

Answer 1

• Insurance is incidental to group’s existence
• Selection Controls
  
  • Eligibility
  • Benefit Design
  • Rate Structure
  • Minimum Participation

Question 2

Life Claim Costs

Data Sources

Answer 2

• Industry Studies (SOA, CIA)
• Actual-to-Expected Ratios
• Population Statistics
• Company Experience

Question 3

Life Claim Costs

Manual Claim Table Adjustments

Answer 3

• Disability
• Effective date adjustment
• Industry
• Regional
• Lifestyle
• Marketing Considerations
• Contribution Schedules
• Case Size and Volume adjustments
• Plan Options