Components of Historical Mortality Improvement Volume 1 — Background and Mortality Improvement Rate Modeling

Abstract

This report documents the “Components of Historical Mortality Improvement” project commissioned by the Longevity Advisory Group (LAG) of the Society of Actuaries. The purpose of the project is to compare and contrast methodologies for allocating historical gender-specific mortality improvement (or deterioration) experience in the U.S. into four components (age, period, cohort, and residual), drawing from the methodologies developed previously by the Continuous Mortality Investigation (CMI) of the Institute and Faculty of Actuaries (IFoA).