A dataset containing an example of a mortality experience study for 1000 fictional whole life insurance policyholders.
mortexpA data.frame() with over 175,000 rows and 24 columns:
AS_OF_DATEThis indicates which point in time a record encompasses.
POLICY_HOLDERAn index used to distinguish policyholders. In this example the policyholder is also the (only) insured.
GENDER,
SMOKING_STATUS,
UNDERWRITING_CLASS,
INSURED_DOB,
ISSUE_DATE,
ISSUE_AGE
Various characteristics of an insured at time of issue.
FACE_AMOUNTFace amount of insurance for a corresponding policy.
TERMINATION_DATEIf terminated, the effective date of termination. An NA value will be
listed for policies that are still in-force.
ATTAINED_AGEThe age of the insured at the record's AS_OF_DATE
EXPECTED_MORTALITY_RTAn expected mortality rate for an insured. The rate is calculated according to De Moivre's Law (also known as uniform distribution of deaths, or \(\text{UDD}\)) with \(\omega=120\).
POLICY_DURATION_MNTH, POLICY_DURATION_YRTemporal indices describing how long a policy has been in-force at the
AS_OF_DATE. For example, when a policy is first issued (i.e.,
\(t=0\)), it is in policy duration year one and policy duration month
one.
POLICY_STATUSThe current status of the policy, either in-force, surrendered, or death. The value will be listed for each policy record even though a decrement only occurs at the end of the policy's duration (for policies which are no longer in-force).
MORT_EXPOSURE_CNT,MORT_EXPOSURE_AMTMeasures how many policyholders or how much face amount of insurance is exposed to the risk of decrement for an associated observations.
MORT_ACTUAL_CNT,MORT_ACTUAL_AMTMeasures the decrement occurrence on a policy count or face amount of insurance basis.
MORT_EXPECTED_CNT,MORT_EXPECTED_AMTMeasures the expected decrement value for an associated observation on a policy count or face amount of insurance basis.
MORT_VARIANCE_CNT,MORT_VARIANCE_AMTMeasures the variance of the decrement expectation, also on a policy count or face amount of insurance basis. Used to calculate credibility scores and confidence intervals.