2005年份精算师精髓SOA真题Course8G（第四要点）请多多牢记这一重要知识点。
　　17. (3 points) You are the chief group underwriter at a major insurance company in the U.S.
　　A number of your underwriters will be retiring shortly, and you must train junior staff to
　　fill these positions. Your group line of business products include life insurance, longterm
　　disability, and long-term care. Outline underwriting considerations for each of these
　　products.
　　COURSE 8: Fall 2005 - 18 - GO TO NEXT PAGE
　　Health and Group Life Segment
　　18. (6 points) You are a valuation actuary for The World’s Best Insurance Company. You
　　have been asked to estimate expected claim costs for non-institutional long-term care
　　(LTC) benefits for a 62-year old male. You have the following information for your
　　company’s LTC product:
　　Benefit Amount: $100/day
　　Benefit Trigger: 2 Activities of Daily Living (ADL) or
　　Cognitive Impairment (CI)
　　Benefit Period: 24 months
　　Elimination Period: 6 months
　　Lapse rate information:
　　Duration Lapse Rate
　　Anti-selective
　　lapse factor
　　0 6% 0.8
　　1 5% 0.7
　　2 4% 0.6
　　3 3% 0.5
　　4 2% 0.4
　　You are also given the following information specific to a 62-year old male:
　　Annual Incidence per $1,000: 10.15
　　Non-Institutional Disability Day Average: 882
　　Published industry experience tabular data on the distribution of non-institutional claim
　　durations for males age 62:
　　Non-institutional Disability Days by Duration from Incurral and ADL/CI Status
　　Age 62 Male
　　Percentage of Non-institutional Days Beyond Duration
　　No CI With CI
　　Duration in
　　months 0 ADL 1 ADL 2 ADL 3+ ADL 0 ADL 1 ADL 2 ADL 3+ ADL
　　0 n/a 40.88 10.85 11.85 31.49 2.34 1.28 1.65
　　6 n/a 31.90 8.96 9.70 30.67 2.15 1.18 1.52
　　24 n/a 14.28 4.73 4.78 28.06 1.65 0.91 1.13
　　30 n/a 10.82 3.78 3.79 27.19 1.51 0.84 1.02
　　(a) (3 points) Calculate the estimated non-institutional claim cost per month. Show
　　your work.
　　(b) (2 points) Discuss how voluntary lapse rates are used in individual LTC valuation
　　methods, and how they relate to anti-selection.
　　(c) (1 point) Calculate the morbidity load at duration 4. Show your work.
　　COURSE 8: Fall 2005 - 19 - GO TO NEXT PAGE
　　Health and Group Life Segment
　　19. (6 points) You are the consultant for BigFish Inc., who recently acquired LittleFish Inc.
　　BigFish Inc. has a flexible benefits plan, while LittleFish Inc. has a traditional plan.
　　BigFish and LittleFish operate in separate markets. Nemo, the President of BigFish Inc.
　　has asked you to prepare a report on transitioning LittleFish’s plan to BigFish’s plan.
　　Current pricing information is shown in the table below:
　　BigFish Inc. Plan Information:
　　Price Tags Relative Value
　　Medical Dental
　　Plan Option Single Family Single Family Medical Dental
　　A $100 $250 $105 $280 60% 80%
　　B $200 $500 $150 $400 100% 100%
　　C $350 $875 $225 $600 150% 125%
　　? Credits: $350 for Single Coverage
　　$900 for Family Coverage
　　LittleFish Inc. Plan Information:
　　Medical Dental
　　Single Family Single Family
　　Current Costs $225 $550 $140 $420
　　Expected Participation in Little Fish Flex Plan
　　Medical Dental
　　Plan Option Single Family Single Family
　　A 5% 10% 10% 5%
　　B 25% 30% 25% 40%
　　C 10% 20% 5% 15%
　　? The current medical plan is 20% richer than the BigFish medical
　　flex plan Option B.
　　? The current dental plan is 10% less rich than the BigFish dental
　　flex plan Option B.
　　? LittleFish pays 100% of the costs.
　　? The enrollment is 40% Single and 60% Family
　　(a) (4 points) Calculate the impact to BigFish’s cost of moving LittleFish into
　　BigFish’s flex plan, without change. Show your work.
　　(b) (2 points) Discuss why BigFish may want to maintain a separate benefits pricing
　　structure from LittleFish, and the advantages and disadvantages of doing so.
　　COURSE 8: Fall 2005 - 20 - GO TO NEXT PAGE
　　Health and Group Life Segment
　　高顿网校之名人话语：春蚕到死丝方尽，人至期颐亦不休。一息尚存须努力，留作青年好范畴。