2024-2025 Individual Life and Annuity Expense Study Data Request
The Society of Actuaries (SOA) Research Institute’s Committee on Life Insurance Company Expenses (CLICE) and LIMRA are soliciting expense experience data for individual life insurance policies and annuity contracts for calendar years 2024 and 2025.
The goals of this study are to:
- provide aggregated industry information on the range of expense levels for individual life insurance and annuities;
- provide useful unit expense benchmark information to actuaries and their companies from which to assess their own unit expense performance for benchmarking, measuring operational efficiencies, and assisting in future strategies; and
- monitor life insurer expense information as related to current and future principles-based reserving techniques for individual life insurance and individual annuities. Results can also be useful in enhancing future development of the Generally Recognized Expense Table (GRET) in the U.S. This table is used by some companies to demonstrate compliance with the NAIC model sales illustration regulation.
Please see attached documents for instructions on data submission and format. The 2024-2025 data are due to LIMRA Secure Retirement Institute by July 31, 2026. If you would like to contribute, but find that this timing is challenging, please contact StudyPro@soa.org.
Also, please communicate your intent to participate in the study to StudyPro@soa.org by May 31, 2026.
We expect that reporting and data visualization dashboard access will occur in March 2027.
In an effort to ensure these important industry studies can be funded on a sustainable basis, the SOA Research Institute and LIMRA are offering the detailed outputs of this work as part of a paid subscription to Experience Studies Pro.
The following may be included in the outputs made available for subscribers:
- detailed experience study report with analysis and commentary;
- a set of data visualization dashboards with the ability to filter on and drill down into the detail of the results of the study;
- dataset(s) containing the aggregated industry experience of this study. The datasets may be made available in excel files, text files or downloads from the data visualization tool; and
- other outputs as determined by the SOA Research Institute and LIMRA.
For more information, please refer to the attached data submission instructions and feel free to contact us with any questions.
Materials
2024-25 Individual Life and Annuity Expense Study Data Request
Questions Or Comments?
If you have any questions, please contact StudyPro@soa.org.