This is the 74th annual report of the intercompany mortality experience for Canadian individual life insurance policies. The study adds the one-year period beginning with the policy anniversary in 2022 on an age-nearest-birthday basis for data submitted by nine companies and focuses on the most recent five policy years. Approximately 70% of Canadian individual life insurance is covered by this study. This report primarily presents the experience of individual life insurance policies and riders issued in Canada that require full underwriting. This is the first Canadian Institute of Actuaries (CIA) mortality report to include experience under joint policies.
Note: The CIA Research Council’s Mortality Risk Research Committee was recently made aware that there may be errors in the experience results for joint lives in the Canadian Individual Life Experience Updated to Policy Year 2022-2023 mortality study published in June 2025. The results for joint lives should, therefore, not be relied upon. The concerns raised only apply to the joint segment, not the rest of the results.