Isn't to age 121 over the top?

Robert L. Barney · #1 07-18-2009, 06:19 PM

I read this article and wondered why we are now pricing policies to age 121:

http://www.dailymail.co.uk/news/arti...-aged-113.html

OhioQuotes · #2 07-19-2009, 03:38 AM

That was a heck of a baby outfit he had.

SydRogers · #3 07-19-2009, 06:04 PM

I think a 35-40 year old today has a real shot to live to age 120 if a cure for cancer, heart disease and diabetes is found in his/her lifetime...which I think is very likely.

Robert L. Barney · #4 07-20-2009, 12:46 AM

Syd,

You are too much of an optimist. The Obama healthcare plan is going to crush R & D.

On another note, people are definitely living longer:

http://news.yahoo.com/s/ap/20090719/...g100_year_olds

The question is whether the jump from 100 to 121 was reasonable?

insuranceexec · #5 07-20-2009, 02:02 PM

You can always adjust the premium input to reflect a guranteed DB to age 100.

glenn · #6 07-20-2009, 02:07 PM

Quote:

Originally Posted by Robert L. Barney

The question is whether the jump from 100 to 121 was reasonable?

I assume that the jump to age 121 was based on mortality tables. And if so, I'd assume that the actuaries have a cutoff at which point they figure 'past this point our original cohort are effectively all dead, but prior to that we've got some number of that cohort still living'.

And if that's the case, then I'd say that the jump to age 121 is fine - it's likely based on mortality tables and that's what the tables are dictating.

JMO Fan · #7 07-20-2009, 04:37 PM

I think the actuaries got tired of agents asking, "But what if s/he lives past the highest age?"

Pirate91 · #8 07-20-2009, 05:42 PM

If the Obama plan goes through, expect all life rates to increase drastically because life expectancies will decrease by 10-20 years. That is if you are deemed useful to this society, then you may get treated for your dread disease.