United States lapse dataset from tied-agent channel

The uslapseagent portfolio contains detailed information on the 29,317 Whole Life policies, all sold from the tied-agent channel between January 1995 and December 2008.

For each policy, we know the issuance date, the gender of the policyholder, the age category, etc...~Unfortunately, some variables are rather uninformative.

Usage

data(uslapseagent)

Format

uslapseagent is a data frame of 14 columns and 29,317 rows:

issue.date: Issue date. For policies not terminated in December 2008, we have non information: fixed right censored.
duration: Time duration in quarters, unknown if censored.
acc.death.rider: Indicates if the policy has an accidental death rider (i.e. an option covering accidental death).
gender: The gender of the policyholder.
premium.frequency: The premium frequency: either infra-annual (monthly, quarterly, semi-annual); annual or supra-annual.
risk.state: The risk state: either "Smoker" or "NonSmoker".
underwriting.age: The underwriting age: either "Young" (between 0 and 34 years old), "Middle" (between 35 and 54 years old) or "Old" (between 55 and 84 years old).
living.place: The living place (categorical value).
annual.premium: The annual premium (standardized scale): mean 560.88 and standard deviation 526.58 in original USD scale.
DJIA: the last observed quarterly variation of the DowJones Index (in standardized scale): mean 0.00178 and standard deviation 0.0494 in original scale.
termination.cause: The type of termination.
surrender: A binary variable indicating the surrender by policyholder.
death: A binary variable indicating the death of policyholder.
other: A binary variable indicating other termination such as term.
allcause: A binary variable indicating all termination.

Source

Unknown non-life insurers from United States, used in Milhaud and Dutang (2018), preprint at https://hal.science/hal-01985256.

References

Milhaud, X., Dutang, C. (2018), Lapse tables for lapse risk management in insurance: a competing risk approach. European Actuarial Journal, 8 (1), 97-126, doi:10.1007/s13385-018-0165-7 .

Examples


# (1) load of data
#
data(uslapseagent)
head(uslapseagent)
#>   issue.date duration acc.death.rider gender premium.frequency risk.state
#> 1 1995-06-29     0.01         NoRider Female       InfraAnnual  NonSmoker
#> 2 1995-09-18     0.01         NoRider   Male       InfraAnnual  NonSmoker
#> 3 1995-09-30     0.01         NoRider   Male            Annual  NonSmoker
#> 4 1995-12-29     0.01           Rider   Male             Other     Smoker
#> 5 1995-12-28     0.01         NoRider Female       InfraAnnual     Smoker
#> 6 1996-05-18     0.01           Rider   Male       InfraAnnual  NonSmoker
#>   underwriting.age living.place annual.premium DJIA termination.cause surrender
#> 1            Young        Other           2.30 2.09         surrender         1
#> 2            Young        Other           1.20 1.36         surrender         1
#> 3           Middle        Other          -0.61 1.06         surrender         1
#> 4           Middle        Other           1.60 1.06         surrender         1
#> 5           Middle        Other          -0.74 1.06         surrender         1
#> 6            Young        Other           1.09 0.67         surrender         1
#>   death other allcause
#> 1     0     0        1
#> 2     0     0        1
#> 3     0     0        1
#> 4     0     0        1
#> 5     0     0        1
#> 6     0     0        1