Summary
The 2026 Individual Life Insurance Mortality Improvement Scale, developed by the Society of Actuaries (SOA) Research Institute’s Mortality Improvement Life Working Group of the Mortality and Longevity Oversight Advisory Council, provides updated Historical Mortality Improvement (HMI) and Future Mortality Improvement (FMI) assumptions for individual life insurance valuation under AG38 and VM20. For 2026, the HMI methodology uses insured population mortality data from 2013–2023 for most adult ages, while the future-looking component incorporates assumptions from the 2026 Social Security Administration Trustees Report. The scales vary by attained age and sex and were accepted by the NAIC Life Actuarial Task Force for the 2026 valuation year.
Key Findings
- The 2026 HMI and FMI scales are accepted for AG38 and VM20 valuation use.
- The historical component is based on a 10-year geometric average of 2013–2023 mortality improvement experience.
- Younger ages use general population data where insured experience is not sufficiently credible.
- Mortality improvement rates above age 80 are graded to zero by age 92.
- The 2026 methodology returns to the standard historical averaging approach following COVID-19-related adjustments in earlier years.
- Future mortality improvement blends current HMI levels with long-term assumptions from the 2026 SSA Trustees Report.
- Ages 26–40 receive special FMI treatment because of recent mortality deterioration trends.
FAQ
The 2026 scale returns to the standard 10-year historical averaging methodology, using insured mortality experience from 2013–2023 for most adult ages.
The methodology uses insured population experience for most adult ages, while younger ages continue to rely on general population data where insured experience is less credible.
Future Mortality Improvement rates begin with the 2026 HMI scale and gradually move toward long-term assumptions based on the 2026 Social Security Administration Trustees Report before grading to zero by 2046.