Lapse-supported life insurance and adverse selection

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<title>Lapse-supported life insurance and adverse selection</title>
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<namePart>Kleinow, Torsten</namePart>
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<abstract displayLabel="Summary">The article analyzes how life insurance policies with lapse-supported premiums amplify the costs of adverse selection. Using Term to 100 contracts as a case study, the authors examine the impact of differences in mortality and lapse behavior, particularly under restrictions on medical underwriting such as bans on the use of genetic testing. Three strategies for managing lapse surplus are compared: elimination by design, retrospective distribution, and prospective distribution. The results show that lapse-supported premiums significantly increase exposure to adverse selection, especially when a secondary market exists and lapse behavior is differential. The study concludes that different modeling approaches produce robust and comparable results</abstract>
<note type="statement of responsibility">Oytun Haçariz, Torsten Kleinow and Angus S. Macdonald</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080570590">
<topic>Seguro de vida</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080542160">
<topic>Primas</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080582661">
<topic>Selección adversa</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080604998">
<topic>Cancelación de pólizas</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080554330">
<topic>Excedentes</topic>
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<topic>Tarificación</topic>
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<topic>Modelos actuariales</topic>
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<title>European Actuarial Journal</title>
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<publisher>Cham, Switzerland  : Springer Nature Switzerland AG,  2021-2022</publisher>
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<identifier type="local">MAP20220007085</identifier>
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<text>13/04/2026 Número 16 issue 1 - abril 2026 , 33 p.</text>
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