insurance companies staggered by huge increase in death rates

[butters]

one company, primarily covering workforce aged people (18-64), has seen a 40% increase in deaths covered by their policies, and acknowledges a lot of deaths caused by long-haul effects of covid triggering other, fatal health issues.

The Centers for Disease Control and Prevention (CDC) explains that excess deaths are associated with COVID-19 directly or indirectly, typically defined as the difference between the observed number of deaths in specific time periods and the expected number of deaths in the same time periods.

Currently, since Feb. 1, 2020, the CDC estimates there have been 942,431 excess deaths in the U.S.

That's a staggering amount, as J Scott Davison, CEO of insurance company OneAmerica, explained during a healthcare conference organized by the Indiana Chamber of Commerce this week. Davison said that his company is seeing the highest death rates now than he’s ever seen before since he started in the insurance business.

OneAmerica offers employers across the country group life insurance, which generally covers people 18 to 64-years-old.

Even more alarming is where those death rates are hitting, with Davison saying it’s primarily among working aged people between the ages of 18 and 64 who are covered by OneAmerica's group life policies. The insurance company says that's similar to what the rest of the group life industry is seeing and is consistent with CDC data.

https://thehill.com/changing-americ...ge-numbers-death-rates-up-40-percent-over-pre

looks like we're about to see that extra cost tacked on to insurance policies of those refusing vaccinations

 

[ishtat]

looks like we're about to see that extra cost tacked on to insurance policies of those refusing vaccinations

Probably no Butters. The Insurance industry has always used mortality tables which are 20- 40 years out of date. (This is my speciality) so they have a built in buffer. Another thing rarely considered too, is that those that die this year, cannot die next year, so a spike in deaths is often followed by a lull - the susceptible lives have already died leaving a healthier insured population. In addition insured lives tend to be slightly healthier better off people.

One assertion by the company is simply untrue. Most of the deaths by far have been in the over 64 age groups which are substantially uninsured- because many are retired. Yes, more employed (insured) folk have died, but the absolute increase is a modest number. It's a story from insurers to maintain premiums for death cover which are too fat already.

 

[butters]

Probably no Butters. The Insurance industry has always used mortality tables which are 20- 40 years out of date. (This is my speciality) so they have a built in buffer. Another thing rarely considered too, is that those that die this year, cannot die next year, so a spike in deaths is often followed by a lull - the susceptible lives have already died leaving a healthier insured population. In addition insured lives tend to be slightly healthier better off people.

that sounds like it makes a lot of sense. However, would a pandemic of this scale have been factored into that buffer?

One assertion by the company is simply untrue. Most of the deaths by far have been in the over 64 age groups which are substantially uninsured- because many are retired. Yes, more employed (insured) folk have died, but the absolute increase is a modest number. It's a story from insurers to maintain premiums for death cover which are too fat already.

agreed that the earlier deaths (pre-vaccine) were mostly amongst that older group, but what about now, given the vaxxed status of more elderly in comparison to younger people getting hit? Particularly omicron cases which are spreading like wildfire in those younger, unvaxxed people.

I'm sure you're right about them needing this to maintain coverage-rates and it was being delivered at a healthcare conference. I've not checked out the most recent cdc data so can't confirm or deny how his statements tally with theirs, but thankyou for your insights into this

 

[Fermina_Daza]

What if an anti-Vaxxer died from Covid? Could that be argued as suicide? I think suicide normally is not covered by life insurance…..

#maliciouscompliance