MIMSA III 2020: Study of mortality and lapse rates in level term life insurance

This report discusses findings from Milliman’s research on predicting lapse and mortality rates for 10-year and 15-year premium term insurance products from the Milliman Industry Mortality Study and Analysis data set. It analyzes over 18 million policy year records provided by over 25 companies, covering issue years from 1993 to 2014.