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An Investigation Into the Withdrawal Experience of Ordinary Life Business

Published online by Cambridge University Press:  03 October 2014

J. G. R. Crombie ,
K. G. Forman ,
P. R. Gibbens ,
D. C. Mason ,
M. D. Paterson ,
P. C. Shaw ,
J. M. G. Smart ,
H. Smith ,
C. G. Thomson  and
R. G. Thomson
J. G. R. Crombie
Affiliation:
Faculty of Actuaries Withdrawal Research Group
K. G. Forman
Affiliation:
Faculty of Actuaries Withdrawal Research Group
P. R. Gibbens
Affiliation:
Faculty of Actuaries Withdrawal Research Group
D. C. Mason
Affiliation:
Faculty of Actuaries Withdrawal Research Group
M. D. Paterson
Affiliation:
Faculty of Actuaries Withdrawal Research Group
P. C. Shaw
Affiliation:
Faculty of Actuaries Withdrawal Research Group
J. M. G. Smart
Affiliation:
Faculty of Actuaries Withdrawal Research Group
H. Smith
Affiliation:
Faculty of Actuaries Withdrawal Research Group
C. G. Thomson
Affiliation:
Faculty of Actuaries Withdrawal Research Group
R. G. Thomson
Affiliation:
Faculty of Actuaries Withdrawal Research Group
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Synopsis

The paper is an investigation into the withdrawal rates of seven Scottish Offices and covers the years 1972-76 with an appendix giving the results for 1977.

The rates were basically analysed by class and duration with further investigations mainly on the 1976 data by age at entry, sex, size of sum assured, premium paying term, premium payment frequency and by type of agent introducing the business. Comparisons were made of the level of withdrawal rates among the various Offices and also the variations from year to year separately. A graduation of the combined data for 1975 and 1976 for each of the five main classes was carried out.

Type
Research Article
Information
Transactions of the Faculty of Actuaries , Volume 36 , 1977 , pp. 262 - 316
Copyright
Copyright © Institute and Faculty of Actuaries 1977

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References

1.Some aspects of withdrawals in ordinary life business. Patrick, F. D. and Scobbie, A., 1969. T.F.A., 31, p. 53.Google Scholar
2.Lapse rates. Richardson, C. R. B. and Hartwell, J. M., 1951. T.S.A., 3, p. 338.Google Scholar
3.First year lapse and default rates. Buck, Norman F., 1961. T.S.A., 12, p. 258.Google Scholar