GLOBAL LIFE UNDERWRITING

CARAT™ | Consistent | Accurate | Reliable | Accountable | Transparent |

Home

LE Methodology

Services & Pricing

Opening an Account

Ordering LERs

News Articles

White Papers & Articles

Contact Us

07/29/09 PRESS RELEASE :: GLU Launches New Version of LE Reports with DBRS Multipliers

GLOBAL LIFE UNDERWRITING is a life expectancy provider committed to providing consistent and reliable life expectancy reports. GLU believes that life expectancy reports should provide an objective standardized baseline, which is why our methodology is based solely on the VBT 2008 Relative Risk Tables.  By employing the same Underwriting Criteria Scoring that is used by the Society of Actuaries in creating the VBT 2008 tables, GLU life expectancy reports enable life settlement investors, portfolio managers, brokers, general agencies, attorneys, and other professionals to utilize our analysis with confidence.

CHARACTERISTICS OF A LIFE EXPECTANCY REPORT

Provide Useful Information to Investors and Sellers. In addition to a number (LE), GLU provides the mortality curve and the full spectrum of relative risk table values. Also, a summary of the data reviewed and a description of any key data related to the RR classification is provided. Where relevant, prior, current or possible future changes to the insured’s health and classification are identified.

Based on Standardized Mortality Tables. All LEs are calculated based on the 2008 VBT Relative Risk Tables or the Social Security Administration Mortality Tables. LEs are calculated using the standard qX actuarial formula on a monthly basis.

All Medical Underwriting is Based on UCS. Underwriting Criteria Score was developed by the Society of Actuaries to standardize the classification of policies for the 2008 VBT RR tables. GLU uses the Swiss Re underwriting (debit/credit) guidelines to consistently classify and rate medical risk factors which are converted to UCS scores.

Based on Insured’s Actual Age. LEs are accurate to the insured’s actual (month) age at the date of the Certificate (no more Age Nearest Birthday or Age Last Birthday).

Based on Issue Date Duration or Last Medical Underwriting. Standard LEs are based on duration from the policy’s issue date or the date of the last GLU-based medical underwriting. Medically Underwritten LERs reset the duration period to 1.


 



DISCLAIMER:  Life Expectancy Reports are not intended to predict the actual likelihood of a mortality event for an individual, but rather is a number or series of numbers that expresses the expected mortality of a large pool of individuals with similar medical and personal characteristics.  NO ONE IS AUTHORIZED TO REPRESENT OR WARRANT THAT A LIFE EXPECTANCY REPORT ATTEMPTS TO PREDICT THE ACTUAL MORTALITY OF ANY INDIVIDUAL.  Global Life Underwriting relies on several recognized sources of mortality data that in turn are based on independently accumulated and analyzed data.  The accuracy of Global Life Underwriting LERs is dependent on the accuracy of these underlying sources of mortality data.  Where appropriate and requested, Global Life Underwriting will perform a medical underwriting based solely on data provided to it by the requesting party. The accuracy, completeness and timeliness of the data will significantly determine Global Life Underwriting's ability to place an individual in an appropriate relative risk class which, in turn, will determine the projected life expectancy for that report.  All personal and medical data concerning the individual insured for whom a life expectancy report has been requested will be held in the strictest confidence consistent with all applicable state and federal laws including HIPAA.  Global Life Underwriting Life Expectancy Reports may contain confidential information and are intended only for the requesting party and other specific parties identified by a HIPAA release signed by the individual whose life was the subject of the Report.

2008 GLOBAL LIFE UNDERWRITING, LLC.   ALL RIGHTS RESERVED