Modelling the mortality of members of group schemes in South Africa

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dc.contributor.authorClur, J C
dc.contributor.authorDorrington, R E
dc.contributor.authorSchriek, K A
dc.contributor.authorLewis, P L
dc.date.accessioned2016-04-28T06:59:44Z
dc.date.available2016-04-28T06:59:44Z
dc.date.issued2013
dc.date.updated2016-04-28T06:57:33Z
dc.description.abstractIn this paper, the methodology underlying the graduation of the mortality of members of group schemes in South Africa underwritten by life insurance companies under group life-insurance arrangements is described and the results are presented. A multivariate parametric curve was fitted to the data for the working ages 25 to 65 and comparisons are made with the mortality rates from the SA85–90 ultimate rates for insured lives and the ASSA2008 AIDS and demographic model. The results show that the mortality of members of group schemes is lower than that of the general population, mortality decreasing with increasing salary, as would be expected. For males it was found that there were differences in mortality rates by industry for a given salary band, whereas for females these differences only occurred in the lower salary bands. Furthermore, there is evidence of the healthy-worker effect at ages 60 and above, where the mortality rates appear to level off or even decrease as age increases. This contrasts with the mortality rates from the SA85–90 ultimate rates for insured lives and the ASSA2008 AIDS and demographic model, which increase exponentially.en_ZA
dc.identifierhttp://dx.doi.org/10.4314/saaj.v13i1.5
dc.identifier.apacitationClur, J. C., Dorrington, R. E., Schriek, K. A., & Lewis, P. L. (2013). Modelling the mortality of members of group schemes in South Africa. <i>South African Actuarial Journal</i>, http://hdl.handle.net/11427/19246en_ZA
dc.identifier.chicagocitationClur, J C, R E Dorrington, K A Schriek, and P L Lewis "Modelling the mortality of members of group schemes in South Africa." <i>South African Actuarial Journal</i> (2013) http://hdl.handle.net/11427/19246en_ZA
dc.identifier.citationClur, J. C., R. E. Dorrington, K. A. Schriek, and P. L. Lewis. "Modelling the mortality of members of group schemes in South Africa." South African Actuarial Journal 13, no. 1 (2013): 143-184.en_ZA
dc.identifier.issn1680-2179en_ZA
dc.identifier.ris TY - Journal Article AU - Clur, J C AU - Dorrington, R E AU - Schriek, K A AU - Lewis, P L AB - In this paper, the methodology underlying the graduation of the mortality of members of group schemes in South Africa underwritten by life insurance companies under group life-insurance arrangements is described and the results are presented. A multivariate parametric curve was fitted to the data for the working ages 25 to 65 and comparisons are made with the mortality rates from the SA85–90 ultimate rates for insured lives and the ASSA2008 AIDS and demographic model. The results show that the mortality of members of group schemes is lower than that of the general population, mortality decreasing with increasing salary, as would be expected. For males it was found that there were differences in mortality rates by industry for a given salary band, whereas for females these differences only occurred in the lower salary bands. Furthermore, there is evidence of the healthy-worker effect at ages 60 and above, where the mortality rates appear to level off or even decrease as age increases. This contrasts with the mortality rates from the SA85–90 ultimate rates for insured lives and the ASSA2008 AIDS and demographic model, which increase exponentially. DA - 2013 DB - OpenUCT DP - University of Cape Town J1 - South African Actuarial Journal LK - https://open.uct.ac.za PB - University of Cape Town PY - 2013 SM - 1680-2179 T1 - Modelling the mortality of members of group schemes in South Africa TI - Modelling the mortality of members of group schemes in South Africa UR - http://hdl.handle.net/11427/19246 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/19246
dc.identifier.urihttp://www.ajol.info/index.php/saaj/article/view/96743
dc.identifier.vancouvercitationClur JC, Dorrington RE, Schriek KA, Lewis PL. Modelling the mortality of members of group schemes in South Africa. South African Actuarial Journal. 2013; http://hdl.handle.net/11427/19246.en_ZA
dc.languageengen_ZA
dc.publisherActurial Society of South Africaen_ZA
dc.publisher.departmentCentre for Actuarial Research (CARE)en_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.rightsCreative Commons Attribution 4.0 International (CC BY 4.0)*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en_ZA
dc.sourceSouth African Actuarial Journalen_ZA
dc.source.urihttp://www.actuarialsociety.org.za/Professionalresources/SAActuarialJournal/SAActuarialJournal2013.aspx
dc.subject.otherparametric graduation
dc.subject.othermortality laws
dc.subject.othermortality rates
dc.subject.otherforce of mortality
dc.subject.otheroccupational mortality
dc.subject.othergroup life insurance
dc.subject.othergroup schemes
dc.subject.otherASSA2008 model
dc.titleModelling the mortality of members of group schemes in South Africaen_ZA
dc.typeJournal Articleen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceArticleen_ZA
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