CMI Working Paper 212

Working Paper 212 was published in March 2026. This paper provides guidance on the use of CMI_2024 & CMI_2025 for pricing and financial management of mortality term assurance policies. 

It highlights the key changes to the Model since the Assurances Committee’s previous guidance on using the CMI Model for assured lives in Working Paper 110, and provides an updated view on the considerations raised in that paper in light of the changes to the Model.

The paper also sets out considerations for:

• The fitted overlay and its parameterisation.
• Socioeconomic factors and their effect on mortality trends.
• Handling post 2019 experience and maintaining consistency between base mortality and trend assumptions.

Note: This paper is available to Authorised Users only.