16-Exhibit B - Milwaukee County Life Experience Reports.pdf

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Attached to
Basic Life Insurance and Optional Life Insurance Program
Solicitation number
RFP-2026-004
Issued by
Milwaukee County, Mattoon Village, Wisconsin

About this file

Written by GovTribe AI ·

This document is a Life/AD&D Exhibit containing basic life insurance experience reports for Milwaukee County (Group Number #104177) with a renewal date of January 1, 2027. The exhibit provides detailed incurred claims analysis and premium data across five plan years from 2021 through 2025 for four coverage categories: Actives Basic Life, Retirees Basic Life (with COVID claims both excluded and included), Optional Life, and Dependent Life. The analysis tracks death claims paid, changes in death pendings, interest to beneficiaries, changes in IBNR reserves, earned premiums, and calculated loss ratios for each plan year to inform renewal pricing decisions.

The actives basic life plan demonstrates strong performance with an average loss ratio of 7.3% across the five-year period, while the retirees basic life plan shows significantly higher claims experience with an average loss ratio of 281.5% (COVID excluded) or 291.4% (COVID included), indicating claims substantially exceed premiums in this population. The optional life plan exhibits an average loss ratio of 26.8% with 50% credibility applied, resulting in a blended expected claims rate of 42.9%, while the dependent life plan shows an average loss ratio of 55.5% with 60% credibility and a blended expected claims rate of 69.2%. These experience reports serve as the actuarial foundation for establishing renewal rates for Milwaukee County's life insurance programs effective January 1, 2027.

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19-Pre-Proposal Conference-Basic Life Insurance and Optional Life Insurance Program.pdf PDF
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10-Attachment 11- Confidential Information Agreement.pdf PDF
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8-Attachment 5a - Milwaukee County Terms and Conditions.pdf PDF
20-Addendum 2.pdf PDF
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18-Exhibit B - Milwaukee County Life Experience Reports.pdf PDF
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22-Attachment B - Milwaukee County - Lives history.xlsx XLSX spreadsheet
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LIFE / AD&D EXHIBIT – Actives

BASIC LIFE RENEWAL ANALYSIS

MILWAUKEE COUNTY

Group Number #104177

Renewal Date January 1, 2027

1/01/2021- 12/31/2021

1/01/2022- 12/31/2022

1/01/2023- 12/31/2023

1/01/2024- 12/31/2024

1/01/2025- 12/31/2025

Incurred Analysis

Death Claims Paid $38,000 $154,000 $10,250 $63,000 $143,250

Change in Death Pendings $0 $0 $0 $7,500 ($7,500)

Conversion Charge $12,000 $0 $0 $0 $0

Portability Charge $0 $0 $0 $0 $0

Interest to Beneficiaries $0 $1,021 $0 $7 $40

Pool charges $0 $0 $0 $0 $0

Change in Disability Reserves $0 $0 $0 $0 $0

Change in IBNR ($29,815) ($22,298) $26,478 $107,535 $7,679

Subtotal $20,185 $132,723 $36,728 $178,042 $143,469

Demographic Adjustment 1.000 1.000 1.000 1.000 1.000

Total Incurred Claims $20,185 $132,723 $36,728 $178,042 $143,469

Premium Analysis

Premium Earned $1,252,595 $1,177,009 $1,266,766 $1,631,291 $1,657,323

Adjusted Premium $1,252,595 $1,177,009 $1,266,766 $1,631,291 $1,657,323

Loss Ratio 1.6% 11.3% 2.9% 10.9% 8.7%

Experience Average 7.3%

Exhibit B -Milwaukee County Life Experience Reports

LIFE / AD&D EXHIBIT – Retirees

MILWAUKEE COUNTY

Group Number #104177

Renewal Date January 1, 2027

1/01/2021-

12/31/2021 1/01/2022- 12/31/2022

1/01/2023- 12/31/2023

1/01/2024- 12/31/2024

1/01/2025- 12/31/2025

COVID CLAIMS EXCLUDED

Incurred Analysis

Death Claims Paid $2,307,705 $2,221,096 $2,184,540 $2,594,855 $2,589,127

Change in Death Pendings ($36,660) ($70,265) $33,780 $80,270 ($5,123)

Conversion Charge $0 $0 $0 $0 $0

Portability Charge $0 $0 $0 $0 $0

Interest to Beneficiaries $2,025 $2,515 $8,065 $3,088 $1,613

Change in Disability Reserves $0 $0 $0 $0 $0

Change in IBNR ($14,060) $2,353 ($4,641) ($6,345) ($6,642)

Subtotal $2,259,010 $2,155,699 $2,221,744 $2,671,868 $2,578,975

Demographic Adjustment 1.050 1.050 1.050 1.050 1.050

Total Incurred Claims $2,371,960 $2,263,484 $2,332,831 $2,805,461 $2,707,924

Premium Analysis

Premium Earned $924,900 $943,727 $906,596 $855,834 $802,699

Adjusted Premium $924,900 $943,727 $906,596 $855,834 $802,699

Loss Ratio 256.5% 239.8% 257.3% 327.8% 337.4%

Experience Average 281.5%

LIFE / AD&D EXHIBIT – Retirees

1/01/2022- 12/31/2022

1/01/2023- 12/31/2023

1/01/2024- 12/31/2024

1/01/2025-

COVID CLAIMS INCLUDED

Death Claims Paid $2,555,940 $2,343,727 $2,205,123 $2,612,105 $2,612,627

Change in Death Pendings ($31,445) ($76,397) $24,697 $73,270 ($5,123)

Conversion Charge $0 $0 $0 $0 $0

Portability Charge $0 $0 $0 $0 $0

Interest to Beneficiaries $2,051 $2,801 $8,242 $3,113 $1,667

Change in Disability Reserves $0 $0 $0 $0 $0

Change in IBNR ($14,060) $2,353 ($4,641) ($6,345) ($6,642)

Subtotal $2,512,486 $2,272,485 $2,233,421 $2,682,143 $2,602,529

Demographic Adjustment 1.050 1.050 1.050 1.050 1.050

Total Incurred Claims $2,638,110 $2,386,110 $2,345,092 $2,816,250 $2,732,656

Premium Analysis

Premium Earned $924,900 $943,727 $906,596 $855,834 $802,699

Adjusted Premium $924,900 $943,727 $906,596 $855,834 $802,699

Loss Ratio 285.2% 252.8% 258.7% 329.1% 340.4%

Experience Average 291.4%

LIFE / AD&D EXHIBIT

OPTIONAL LIFE RENEWAL ANALYSIS

1/01/2022- 12/31/2022

1/01/2023- 12/31/2023

1/01/2024- 12/31/2024

1/01/2025-

Death Claims Paid $221,000 $0 $180,000 $40,000 $361,000

Change in Death Pendings $0 $0 $0 $0 $0

Conversion Charge $0 $0 $0 $0 $0

Portability Charge $1,375 $25,955 $6,040 $0 $0

Interest to Beneficiaries $0 $0 $0 $0 $0

Change in Disability Reserves $0 $0 $0 $0 $0

Change in IBNR $27,719 ($2,906) $10,815 ($39,564) $29,143

Subtotal $250,094 $23,049 $196,855 $449 $390,143

Demographic Adjustment 1.000 1.000 1.000 1.000 1.000

Total Incurred Claims $250,094 $23,049 $196,855 $449 $390,143

Premium Analysis

Premium Earned $660,823 $650,971 $687,633 $553,518 $652,310

Adjusted Premium $660,823 $650,971 $687,633 $553,518 $652,310

Loss Ratio 37.8% 3.5% 28.6% 0.1% 59.8%

Experience Average 26.8%

Credibility 50%

Blended Expected Claims 42.9%

LIFE / AD&D EXHIBIT

DEPENDENT LIFE RENEWAL ANALYSIS

1/01/2022- 12/31/2022

1/01/2023- 12/31/2023

1/01/2024- 12/31/2024

1/01/2025-

Death Claims Paid $32,500 $170,000 $82,500 $12,500 $20,000

Change in Death Pendings ($12,500) $20,000 ($20,000) $0 $0

Conversion Charge $0 $0 $0 $0 $0

Portability Charge $0 $0 $0 $0 $0

Interest to Beneficiaries $701 $0 $0 $86 $0

Change in Disability Reserves $0 $0 $0 $0 $0

Change in IBNR $224 ($961) ($216) ($2,899) $1,315

Subtotal $20,925 $189,039 $62,284 $9,687 $21,315

Demographic Adjustment 1.000 1.000 1.000 1.000 1.000

Total Incurred Claims $20,925 $189,039 $62,284 $9,687 $21,315

Premium Analysis

Premium Earned $123,722 $116,038 $114,310 $91,120 $101,639

Adjusted Premium $123,722 $116,038 $114,310 $91,120 $101,639

Loss Ratio 16.9% 162.9% 54.5% 10.6% 21%

Experience Average 55.5%

Credibility 60%

Blended Expected Claims 69.2%

File details come from the government source that posted it. Updated .