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Individual vs Credit Disability Analysis

It has been alleged that purchasers of credit disability insurance would be better served by buying alternative types of disability insurance. It has also been purported that credit disability insurance does not provide sufficient "value" to the consumer because the loss ratio is typically less than certain other forms of insurance.

In this supplement to our previous work on the subject of cost and value of credit insurance relative to other forms of insurance, we conclude that credit disability is reasonably priced and that the loss ratios are consistent with individually underwritten disability insurance.

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Term Insurance versus Credit Life

It has been alleged that purchasers of credit life insurance would be better served by buying ordinary term insurance. It has also been purported that credit insurance does not provide sufficient "value" to the consumer because the loss ratio is typically less than certain other forms of insurance.

In this update to our previous work on the subject of cost and value of credit life insurance relative to individually underwritten term life insurance, we conclude that credit life is a reasonably priced product and - if loss ratio is in fact a valid measure of consumer value - credit life may actually provide better value to policyholders than level term insurance.

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  • Credit Insurance Actuarial Services
  • Life Insurance Actuarial Services
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We are committed to meeting all of the challenges faced by today's actuaries and insurance companies. We will use our resources and all tools available to get the job done on budget and on time. After you have had a chance to review our products please share your comments with us. We look forward to hearing from you.

Our Team

Chris Hause
Chris
Hause
Robert Busby
Robert
Busby
Rex Durington
Rex
Durington
Kieth Nelson
Kieth
Nelson
Randall Stevenson
Randall
Stevenson
Sean Dermody
Sean
Dermody
Angelica Villanueva
Angelica
Villanueva
Kent Barchers
Kent
Barchers

Our Recent Newsletter Articles

  • Recent Health Form Filings

    2015-Sep-03 - Rex Durington

    Hause Actuarial Solutions, Inc. (Hause) periodically reviews new health form filings as a service to our clients and friends. This installment of our review covers approved form and rate filings from July 2014 to July 2015. The predominant policy types approved during this period were for Critical Illness (9 companies), Hospital Indemnity (4 companies), and Accident products (3 companies).
  • New Actuarial Guideline for Indexed UL

    2015-Sep-03 - Christopher H. Hause

    Actuarial Guideline 49 interprets and sets limits on certain aspects of the Illustration Regulation for Indexed UL contracts. AG 49 was undertaken by LATF primarily to bring consistency and historical support for interest rates used for illustrations. The crafting of AG 49 represents an impressive collaboration and compromise involving various industry, consumer and regulatory interests.
  • Interest Rate Update

    2015-Sep-03 - Christopher H. Hause

    Statutory valuation interest rates for life insurance remain unchanged for 2016, with the "Whole Life" rate at 3.50%.

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