Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Life
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

US PROPERTY AND CASUALTY JOBS

Reply
 
Thread Tools Display Modes
  #11  
Old 03-10-2005, 01:14 PM
urysohn
Guest
 
Posts: n/a
Default

Based on recent (and consistent) feedback we're getting from our reinsurers, none are likely sufficient. Old age mortality is a hot item, with many of the reinsurers reaching the conclusion that there should be additional loadings at ages 70+, above and beyond those included in any of the existing extensions.
Reply With Quote
  #12  
Old 03-29-2005, 04:32 PM
KD KD is offline
Member
 
Join Date: Feb 2003
Posts: 81
Default

Is the "Manulife" extension table short for "Manufacturers Life Extension" table? Thanks!
Reply With Quote
  #13  
Old 03-29-2006, 02:30 PM
USA AOK's Avatar
USA AOK USA AOK is offline
Member
SOA
 
Join Date: Jul 2004
Location: KC
Favorite beer: A&W
Posts: 64
Default

I have a SOA 75-80 table with an extension and I was wondering if someone knew if it is a well known extension within the industry. I can't seem to find it anywhere. I know it isn't one of the two already mentioned in this thread.

1st year rates for males issue age 71-75 are:
12.14
16.72
21.64
26.41
29.44

Thanks for the help.
Reply With Quote
  #14  
Old 04-06-2006, 03:54 PM
teapeaexcueexplustea teapeaexcueexplustea is offline
Member
SOA
 
Join Date: Mar 2006
Location: Ontario, Canada
Studying for PEC
Posts: 643
Default

Quote:
Originally Posted by Chuck
Thanks to all. FriendlyFSA's link worked fine and I found the 97-98 transactions, so I have all three sets now.

I guess the $64 question now is which extension makes the most sense for pricing purposes? I'm thinking the reinsurance studies do moreso than the Tillinghast extension because it seems unlikely that age 70 selection would continue as assumed by the Tillinghast numbers.

Any opinions?

Chuck

The Tillinghast extension is an extremely flat one, based pretty much on polynomial extrapolation. The Manulife was done somewhat like that, but it is much more conservative. I would say to be conservative, use Manu. Though, from my experience, some companies, and even the recent SOA study have used the Tillinghast extension. PM me if you want more details.
Reply With Quote
  #15  
Old 04-06-2006, 09:01 PM
pepeTHEgrate pepeTHEgrate is offline
Member
 
Join Date: Apr 2003
Posts: 175
Default

Which one is the best for you depends on how you will use the extention.
Reply With Quote
  #16  
Old 04-07-2006, 10:11 AM
teapeaexcueexplustea teapeaexcueexplustea is offline
Member
SOA
 
Join Date: Mar 2006
Location: Ontario, Canada
Studying for PEC
Posts: 643
Default

Quote:
Originally Posted by pepeTHEgrate
Which one is the best for you depends on how you will use the extention.
I agree
Reply With Quote
  #17  
Old 06-15-2006, 03:13 PM
mayreeh mayreeh is offline
Member
 
Join Date: Sep 2001
Posts: 482
Default

I have a table that appears to be the Tillinghast table. Is the T table published online so that I can check to ensure I have it right?
__________________
I live for mortality.
Reply With Quote
  #18  
Old 06-16-2006, 10:49 AM
teapeaexcueexplustea teapeaexcueexplustea is offline
Member
SOA
 
Join Date: Mar 2006
Location: Ontario, Canada
Studying for PEC
Posts: 643
Default

I have never been able to find it published online. You could send it to me though, and I can tell you.
Reply With Quote
  #19  
Old 06-16-2006, 05:01 PM
Chuck Chuck is offline
Member
SOA AAA
 
Join Date: Oct 2001
Location: Illinois
Posts: 2,572
Default

I did not get it from an official source, but I found that the extension I have (that I was told was the Tillinghast extension in this thread) was extended by maintaining a constant ratio of the select rate to the ultimate rate at a given attained age and duration. In other words

q(70+y,t)=q(70+y+t-1)*(q(70,t)/q(70+t-1)) for x and t =1,2,3 etc

where q(x,t) is the select and ultimate q at age x, duration t and
q(x) is the ultimate only q at age x.

I think that expresses the formula correctly anyway.

Chuck
Reply With Quote
  #20  
Old 08-23-2006, 03:23 PM
Numbers Nerd's Avatar
Numbers Nerd Numbers Nerd is offline
Member
SOA AAA
 
Join Date: Sep 2001
Location: Midwest
College: University of Wisconsin
Favorite beer: Ale, Lager, you name it
Posts: 1,178
Default

Quote:
Originally Posted by USA AOK View Post
I have a SOA 75-80 table with an extension and I was wondering if someone knew if it is a well known extension within the industry. I can't seem to find it anywhere. I know it isn't one of the two already mentioned in this thread.

1st year rates for males issue age 71-75 are:
12.14
16.72
21.64
26.41
29.44

Thanks for the help.
I've seen that "extension" recently. Axis software includes it in their official list of tables. But you know what they've done - they've simply used the Age 70 rates to extend to the later issue ages. 12.14 is age 70 duration 2, for example.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 05:56 AM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.19409 seconds with 9 queries