Group drafts individual disability table

The work group would like to put the new table draft through a six-month public comment period starting in January. Members would build in a two-year table adoption transition period, to give insurers and vendors time to update their systems once states agree to use the tables, according to Doug Taylor, the work group co-chair. 

The individual table work group has tried to follow the example set by another disability table update team, the Group Long-Term Disability Work Group, as much as possible, Taylor said.

The work group acknowledged that the draft table does have some limitations.

The drafters have not assumed any improvement in mortality, and they could not separate the effects of individual disability claims that end because of death from claims that end because the claimant has recovered, Taylor said. The drafters are hoping they can get data to make improvements later.

CORRECTION: An earlier version of this story described the source of the individual disability presentation incorrectly. The Individual Disability Table Work Group is the source of the presentation.

See also:

• Task force posts disability table guideline draft
• NAIC panel adds LTCI, disability charges
• Actuaries call for new individual disability valuation table