RFP%2031786-00193%20Appendix%207.3%20Claims,%20Conversion%20and%20Premium%20Experience%202018%20_June%202026%20Voluntary%20Term%20Life.xlsb
XLSB spreadsheet 13 KB Posted
- Solicitation number
- RFP 31786-00193
- Issued by
- Davidson County, Tennessee
About this file
This is a claims and experience data appendix for Voluntary Term Life Insurance (VTL) under RFP 31786-00193, relating to the State of Tennessee's Life and Accidental Death and Dismemberment Insurance contract. The document provides comprehensive claims, conversion, and premium experience data for Policy Number 34175 spanning from January 1, 2018 through June 30, 2026. The data covers multiple coverage types including Employee Voluntary Term Life Insurance, Spouse Voluntary Term Life Insurance, Voluntary Child Term Life Rider, and corresponding ported coverage options. The appendix presents earned premiums, incurred claims, and incurred loss ratios on an annual basis for the full contract period, with data broken down by individual coverage type and aggregated totals for each calendar year and the partial year through June 2026.
The experience data demonstrates premium and claims trends across the contract term, with total earned premiums ranging from approximately $9.6 million to $10.4 million annually during the full-year periods, and overall loss ratios varying from a low of 52.5% in 2024 (Life Coverages only) to a high of 99.2% in 2023 (All Lines of Coverage). Employee Voluntary Term Life Insurance consistently represents the largest premium volume, while Spouse and Child coverage categories show variable claims experience over the period. The most recent data from January through June 2026 shows total earned premiums of $4.99 million with a 95.6% loss ratio across all lines of coverage. This historical experience data would serve as the basis for rate development, claims projections, and underwriting analysis for the renewal or continuation of the voluntary life insurance program under the state contract.
Text of this file
7.3 VTL
| RFP 31786-00193 Appendix 7.3 Claims, Conversion and Premium Experience 2018 - June 2026 Voluntary Term Life | ||||
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2018 through December 31, 2018 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $8,012,352 | $6,051,000 | 75.50% | |
| Spouse Voluntary Term Life Insurance | $686,763 | $784,993 | 114.30% | |
| Voluntary Child Term Life Rider | $48,576 | $8,535 | 17.60% | |
| Total Life Coverages | $8,747,691 | $6,844,528 | 78.20% | |
| Employee Voluntary Ported | $1,444,676 | $1,707,392 | 118.20% | |
| Sposue Voluntary Ported | $177,647 | $136,073 | 76.60% | |
| Voluntary Child Rider Ported | $2,643 | $10,034 | 379.60% | |
| Total Ported Civerages | $1,624,966 | $1,853,499 | 114.10% | |
| Total Employee Voluntary Insurance | $9,457,028 | $7,758,392 | 82.00% | |
| Total Spouse Voluntary Insurance | $864,410 | $921,066 | 106.60% | |
| Total Voluntary Child Rider | $51,219 | $18,569 | 36.30% | |
| Total for All Lines of Coverage | $10,372,657 | $8,698,027 | 83.90% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2019 through December 31, 2019 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $8,053,912 | $5,438,957 | 67.50% | |
| Spouse Voluntary Term Life Insurance | $677,623 | $670,902 | 99.00% | |
| Voluntary Child Term Life Rider | $46,590 | $69,673 | 149.50% | |
| Total Life Coverages | $8,778,125 | $6,179,532 | 70.40% | |
| Employee Voluntary Ported | $1,413,618 | $2,126,594 | 150.40% | |
| Sposue Voluntary Ported | $172,094 | $132,513 | 77.00% | |
| Voluntary Child Rider Ported | $2,524 | $0 | 0.00% | |
| Total Ported Civerages | $1,588,236 | $2,259,107 | 142.20% | |
| Total Employee Voluntary Insurance | $9,467,530 | $7,565,551 | 79.90% | |
| Total Spouse Voluntary Insurance | $849,717 | $803,415 | 94.60% | |
| Total Voluntary Child Rider | $49,114 | $69,673 | 141.90% | |
| Total for All Lines of Coverage | $10,366,361 | $8,438,639 | 81.40% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2020 through December 31, 2020 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $8,166,980 | $6,302,814 | 77.20% | |
| Spouse Voluntary Term Life Insurance | $679,525 | $757,508 | 111.50% | |
| Voluntary Child Term Life Rider | $45,063 | $36,896 | 81.90% | |
| Total Life Coverages | $8,891,568 | $7,097,218 | 79.80% | |
| Employee Voluntary Ported | $1,385,653 | $2,019,432 | 145.70% | |
| Sposue Voluntary Ported | $159,719 | $199,775 | 125.10% | |
| Voluntary Child Rider Ported | $2,414 | $174 | 7.20% | |
| Total Ported Civerages | $1,547,786 | $2,219,381 | 143.40% | |
| Total Employee Voluntary Insurance | $9,552,633 | $8,322,246 | 87.10% | |
| Total Spouse Voluntary Insurance | $839,244 | $957,283 | 114.10% | |
| Total Voluntary Child Rider | $47,477 | $37,070 | 78.10% | |
| Total for All Lines of Coverage | $10,439,354 | $9,316,599 | 89.20% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2021 through December 31, 2021 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $8,142,815 | $5,731,062 | 70.40% | |
| Spouse Voluntary Term Life Insurance | $664,345 | $783,897 | 118.00% | |
| Voluntary Child Term Life Rider | $42,924 | $64,263 | 149.70% | |
| Total Life Coverages | $8,850,084 | $6,579,222 | 74.30% | |
| Employee Voluntary Ported | $1,390,494 | $1,518,497 | 109.20% | |
| Sposue Voluntary Ported | $154,237 | $292,280 | 189.50% | |
| Voluntary Child Rider Ported | $2,207 | $0 | 0.00% | |
| Total Ported Civerages | $1,546,938 | $1,810,777 | 117.10% | |
| Total Employee Voluntary Insurance | $9,533,309 | $7,249,559 | 76.00% | |
| Total Spouse Voluntary Insurance | $818,582 | $1,076,177 | 131.50% | |
| Total Voluntary Child Rider | $45,131 | $64,263 | 142.40% | |
| Total for All Lines of Coverage | $10,397,022 | $8,389,999 | 80.70% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2022 through December 31, 2022 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $7,928,820 | $3,959,037 | 49.90% | |
| Spouse Voluntary Term Life Insurance | $628,086 | $850,740 | 135.40% | |
| Voluntary Child Term Life Rider | $40,194 | $62,814 | 156.30% | |
| Total Life Coverages | $8,597,100 | $4,872,591 | 56.70% | |
| Employee Voluntary Ported | $1,377,207 | $2,152,572 | 156.30% | |
| Sposue Voluntary Ported | $143,840 | $215,106 | 149.50% | |
| Voluntary Child Rider Ported | $2,141 | $5,024 | 234.70% | |
| Total Ported Civerages | $1,523,188 | $2,372,702 | 155.80% | |
| Total Employee Voluntary Insurance | $9,306,027 | $6,111,609 | 65.70% | |
| Total Spouse Voluntary Insurance | $771,926 | $1,065,846 | 138.10% | |
| Total Voluntary Child Rider | $42,335 | $67,838 | 160.20% | |
| Total for All Lines of Coverage | $10,120,288 | $7,245,293 | 71.60% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2023 through December 31, 2023 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $7,378,922 | $6,782,817 | 91.90% | |
| Spouse Voluntary Term Life Insurance | $542,844 | $885,973 | 163.20% | |
| Voluntary Child Term Life Rider | $28,498 | $39,891 | 140.00% | |
| Total Life Coverages | $7,950,264 | $7,708,681 | 97.00% | |
| Employee Voluntary Ported | $1,468,489 | $1,613,100 | 109.80% | |
| Sposue Voluntary Ported | $153,305 | $176,117 | 114.90% | |
| Voluntary Child Rider Ported | $1,533 | $111 | 7.20% | |
| Total Ported Civerages | $1,623,327 | $1,789,328 | 110.20% | |
| Total Employee Voluntary Insurance | $8,847,411 | $8,395,917 | 94.90% | |
| Total Spouse Voluntary Insurance | $696,149 | $1,062,090 | 152.60% | |
| Total Voluntary Child Rider | $30,031 | $40,002 | 133.20% | |
| Total for All Lines of Coverage | $9,573,591 | $9,498,009 | 99.20% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2024 through December 31, 2024 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $7,793,778 | $3,841,120 | 49.30% | |
| Spouse Voluntary Term Life Insurance | $545,466 | $511,115 | 93.70% | |
| Voluntary Child Term Life Rider | $32,344 | $38,707 | 119.70% | |
| Total Life Coverages | $8,371,588 | $4,390,942 | 52.50% | |
| Employee Voluntary Ported | $1,356,144 | $1,442,911 | 106.40% | |
| Sposue Voluntary Ported | $141,341 | $242,058 | 171.30% | |
| Voluntary Child Rider Ported | $1,420 | $0 | 0.00% | |
| Total Ported Civerages | $1,498,905 | $1,684,969 | 112.40% | |
| Total Employee Voluntary Insurance | $9,149,922 | $5,284,031 | 57.70% | |
| Total Spouse Voluntary Insurance | $686,807 | $753,173 | 109.70% | |
| Total Voluntary Child Rider | $33,764 | $38,707 | 114.60% | |
| Total for All Lines of Coverage | $9,870,493 | $6,075,911 | 61.60% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2025 through December 31, 2025 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $7,934,538 | $4,339,447 | 54.70% | |
| Spouse Voluntary Term Life Insurance | $534,837 | $727,704 | 136.10% | |
| Voluntary Child Term Life Rider | $31,275 | $33,377 | 106.70% | |
| Total Life Coverages | $8,500,650 | $5,100,528 | 60.00% | |
| Employee Voluntary Ported | $1,251,252 | $809,553 | 64.70% | |
| Sposue Voluntary Ported | $125,641 | $194,604 | 154.90% | |
| Voluntary Child Rider Ported | $1,335 | $10,000 | 749.10% | |
| Total Ported Civerages | $1,378,228 | $1,014,157 | 73.60% | |
| Total Employee Voluntary Insurance | $9,185,790 | $5,149,000 | 56.10% | |
| Total Spouse Voluntary Insurance | $660,478 | $922,308 | 139.60% | |
| Total Voluntary Child Rider | $32,610 | $43,377 | 133.00% | |
| Total for All Lines of Coverage | $9,878,878 | $6,114,685 | 61.90% | |
| Experience by Coverage | ||||
| Policy Number: 34175 | ||||
| For the Period January 1, 2026 through June 30, 2026 | ||||
| Coverage | Earned Premium | Incurred Claims | Incurred Loss Ratio | |
| Employee Voluntary Term Life Insurance | $4,081,974 | $3,653,235 | 89.50% | |
| Spouse Voluntary Term Life Insurance | $269,266 | $311,224 | 115.60% | |
| Voluntary Child Term Life Rider | $15,162 | $15,539 | 102.50% | |
| Total Life Coverages | $4,366,402 | $3,979,998 | ||
| Employee Voluntary Ported | $568,921 | $771,127 | 135.50% | |
| Sposue Voluntary Ported | $57,953 | $22,897 | 39.50% | |
| Voluntary Child Rider Ported | $617 | $100 | 16.20% | |
| Total Ported Civerages | $627,491 | $794,124 | ||
| Total Employee Voluntary Insurance | $4,650,895 | $4,424,362 | 95.10% | |
| Total Spouse Voluntary Insurance | $327,219 | $334,121 | 102.10% | |
| Total Voluntary Child Rider | $15,779 | $15,639 | 99.10% | |
| Total for All Lines of Coverage | $4,993,893 | $4,774,122 | 95.60% |
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