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CMI Working Paper 136

Working Paper 136: Final “IP11” claim inception and termination rates for individual income protection experience

CMI Working Paper 136  was published in September 2020. It covers the final “IP11” Series claim inception and termination rates based on CMI income protection experience in the period 2007-2016. The working paper:

     • Contains an overview of the final “IP11” Series rates;

     • Summarises feedback on the proposed rates, issued for consultation in Working Paper 131  and the Committee’s responses to this feedback; and

     • Discusses future work. 

 

A spreadsheet of “IP11” claim inception rates is available alongside this paper. This replaces the spreadsheet of claim inception and sample termination rates made available alongside Working Paper 131.

More accurate “IP11” claim termination rates can be derived using the latest version of the CMI IP Rate Table Tool, which incorporates the “IP11” rates.

Note: the working paper is available to Authorised Users only.

A briefing note on the final “IP11” claim inception and termination rates has also been issued and is publicly available alongside this paper. It provides an overview of the rates and is aimed at those receiving advice based on the tables, such as Non-Executive Directors.

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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    28 January 2021

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    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. 

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    In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.

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    Trust and Leadership for Actuaries

    Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:

  • Health and Care Hot Topics webinar

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    10 February 2021

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    In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.

    Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.

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    As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.

  • Sub-Saharan Africa Town Hall

    26 February 2021

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    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

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