Sickness experience for individual income protection policies: experience for 2003-2006 compared with 1991-2002

CMI Working Paper 60 reports individual IP experience for 2003-06 together with summary results to show the trend in experience, by quadrennium, over 1991-2006

The experience is compared for the first time with that expected using the IPM 1991-98 graduations.

The CMI Income Protection (IP) Committee published a new set of sickness graduations, known as IPM 1991-98, in 2010. The development of the graduations led to a large number of refinements to the IP investigation’s methodology, and these changes have now also been implemented in the CMI’s IP experience analysis tools.

Alongside this development, the Committee has also taken the opportunity to make the results of its investigations more easily accessible by releasing them in spreadsheet format. Using these new tools, the Committee is pleased to present, for the first time, individual IP business experience using the IPM 1991-98 graduations as the basis of comparison.

More detailed results tables are presented in the following Microsoft Office Excel workbooks:

The results for 1991-1994, 1995-1998 and 1999-2002 were previously reported in CMIRs 18, 20 and 22 respectively, using SM1975-78 as the basis of comparison. The working paper and results spreadsheets present a re-statement of that experience using the revised methodology and using IPM 1991-98 as the comparison basis.

CMI Working Paper 59 is a reference paper providing summary documentation of the revised methodology and reporting format implemented, alongside the introduction of IPM 1991-98, for CMI Working Paper 60 

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