Version 1.2 of the CMI Income Protection Rate Table Tool was released in October 2020.

This is a spreadsheet-based tool, designed to assist practitioners in deriving claim inception and termination rates, as well as other factors required for their in-house profit testing, valuation and experience analysis tools, such as claim annuity values. It is intended to help practitioners make full use of the published graduations – notably the “IP11” termination rates and earlier graduations which were published as formulae – and experience. Version 1.2 incorporates the “IP11” claim inception and termination rates which were finalised alongside Working Paper 136  in September 2020.

The Tool allows straightforward calculation of inception and termination rates, and includes secondary functions to calculate rates of decrement, continuance probabilities and claim annuity values. Examples are provided to demonstrate use of these functions and to help enable users to tailor them to their own needs.

A user guide provides documentation for the CMI IP Tool.

•    CMI IP Tool

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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Events calendar

  • Sub-Saharan Africa Town Hall

    26 February 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.

  • MENAP Town Hall

    2 March 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Middle East, North Africa and Pakistan (MENAP) Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann. 

  • Spaces available

    COVID-19 has seen a marked increase in mental health issues. We all have mental health and poor mental health has serious consequences for individuals and our workplaces, with it costing UK businesses £33-42 billion annually.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.