delta_lapse = c * max(0, ITM_pct - threshold); c calibrated 0.05-0.15 per firm
| source | SOA Dynamic Lapse Behavior Study |
| derivation | data_calibrated |
| quality | calibrated |
| regulatory frameworks | NAIC VM-21 §7 |
| set | 2026-05-25 |
| last reviewed | 2026-05-25 |
| next review due | 2026-12-31 |
Companion to A-012; this is the elasticity coefficient that A-012's f(.) function applies.