Working Paper 207 was published in November 2025. The paper describes the mortality (including terminal illness) and accelerated critical illness experience of rated term assurances (i.e. for policies sold on non-standard rates) in 2021-2023, as submitted by insurance companies. This is our first analysis of such data.
For most of the results in the paper, we compare claims to those expected using the “16” Series tables, including allowances for the rating levels included in the data. These include both percentage and per mille rating levels but do not include allowances for policies sold with claim exclusions, which were not available in the data collected. For a subset of the results, we also show results where expected claims have not been adjusted, and these are labelled as “unadjusted” results.
We compare the experience against that of term assurances sold on standard rates for the same period, using results from Working Paper 191 (for 2021) and Working Paper 202 (for 2022 and 2023).
We have also published a spreadsheet that includes the values used in the charts in the working paper, as well as some interactive data visualisation charts.
Note: this paper and the spreadsheet are available to Authorised Users only.
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