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This excerpt taken from the ALL 10-Q filed May 7, 2009. Life and annuity contract benefits decreased 2.5% or $10 million in the first quarter
of 2009 compared to the same period of 2008 due to improved mortality
experience on annuities and life insurance products.
59
We analyze our mortality and morbidity results using the difference between premiums and contract charges earned for the cost of insurance and life and annuity contract benefits excluding the portion related to the implied interest on immediate annuities with life contingencies (“benefit spread”). This implied interest totaled $139 million and $138 million in the first quarter of 2009 and 2008, respectively. The benefit spread by product group is disclosed in the following table.
Benefit spread increased 35.1% in the first quarter of 2009 compared to the same period of 2008 due primarily to improved mortality experience on annuities and life insurance products, growth in accident and health insurance business in force due to sales through the Allstate Workplace Division, and increased contract charges on interest-sensitive life insurance contracts for the cost of insurance.
This excerpt taken from the ALL 10-Q filed Nov 6, 2008. Life and annuity contract
benefits increased 12.7%
or $47 million and 2.1% or $25 million in the third quarter and first nine
months of 2008, respectively, compared to the same periods in 2007. The increase in the third quarter of 2008 was
due to higher contract benefits on life insurance products and immediate
annuities with life contingencies resulting from unfavorable mortality
experience. The increase in the first nine
months of 2008 compared to the first nine months of 2007 was due to higher
contract benefits on life insurance products resulting from increased insurance
in force and unfavorable mortality experience, partially offset by lower
contract benefits on immediate annuities with life contingencies resulting
primarily from the impact of lower sales, and the recognition in the prior year
period of litigation related costs in the form of additional policy benefits.
55
We analyze our mortality and morbidity results using the difference between premiums and contract charges earned for the cost of insurance and life and annuity contract benefits excluding the portion related to the implied interest on immediate annuities with life contingencies (“benefit spread”). This implied interest totaled $137 million and $135 million in the third quarter of 2008 and 2007, respectively, and totaled $413 million and $411 million in the first nine months of 2008 and 2007, respectively. The benefit spread by product group is disclosed in the following table.
This excerpt taken from the ALL 10-Q filed Aug 6, 2008. Life and annuity contract benefits increased 2.3% or $9 million in the second
quarter of 2008 compared to the second quarter of 2007 and decreased 2.7% or
$22 million in the first six months of 2008 compared to the same period in
2007. The increase in the second quarter
of 2008 was due to higher contract benefits on life insurance products
resulting primarily from increased insurance in-force and slightly unfavorable
mortality experience, partially offset by lower contract benefits on annuities
due primarily to the impact of lower sales of immediate annuities with life
contingencies on reserve changes partly offset by unfavorable mortality
experience. The decrease in the first
six months of 2008 was due to lower contract benefits on annuities resulting
primarily from the impact of lower sales of immediate annuities with life
contingencies on reserve changes, partially offset by higher contract benefits
on life insurance products due primarily to increased insurance in-force and
slightly unfavorable mortality experience, partially offset by the recognition
in the prior year of litigation related costs in the form of additional policy
benefits.
We analyze our mortality and morbidity results using the difference between premiums and contract charges earned for the cost of insurance and life and annuity contract benefits excluding the portion related to the implied interest on immediate annuities with life contingencies (“benefit spread”). This implied interest totaled $138 million and $139 million in the second quarter of 2008 and 2007, respectively, and totaled $276 million in both the first six months of 2008 and 2007. The benefit spread by product group is disclosed in the following table.
51
This excerpt taken from the ALL 10-Q filed May 8, 2008. Life and annuity contract
benefits decreased 7.2%
or $31 million in the first quarter of 2008 compared to the same period in 2007
due to lower contract benefits on annuities and, to a lesser extent, decreased
contract benefits on life insurance products.
The decline in contract benefits on annuities was mostly attributable to
lower sales of immediate annuities with life contingencies, partially offset by
unfavorable mortality experience. The decline in contract benefits on life
insurance products was due to the recognition in the prior year of litigation
related costs in the form of additional policy benefits partially offset by
unfavorable mortality experience on traditional life insurance products.
We analyze our mortality and morbidity results using the difference between premiums, contract charges earned for the cost of insurance and life and annuity contract benefits excluding the portion related to the implied interest on immediate annuities with life contingencies (“benefit spread”). This implied interest totaled $138 million and $137 million in the first quarter of 2008 and 2007, respectively. The benefit spread by product group is disclosed in the following table.
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