Insurance Executive Says Death Rates Among Working-Age People Up 40 Percent
It is interesting to note that the insurance industry has been processing claims at a record rate.
Scott Davison, the CEO of OneAmerica, a $100 billion life insurance and retirement company headquartered in Indianapolis said following :
“We’re seeing right now the highest death rates we’ve ever seen in the history of this business,”
“The data is consistent across every player in the business.”
Davison said death rates among working age people – those 18 to 64-years-old – are up 40 percent in the third and fourth quarter of 2021 over pre-pandemic levels.
“Just to give you an idea of how bad that is, a three sigma or 200-year catastrophe would be a 10 percent increase over pre-pandemic levels,” Davison said. “So, 40 percent is just unheard of.”
Davison says OneAmerica expects to pay out more than $100 million in short- and long-term disability claims during the pandemic.
Source : https://www.wfyi.org/news/articles/insurance-death-rates-working-age-people-up-40-percent
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