Posted on 01/03/2022 1:02:31 PM PST by ransomnote
A third Covid-19 wave could potentially lead to a spike in life insurance claims, directly affecting insurer's solvency margins and profits.
People now have a much better understanding of the need for financial protection against life’s uncertainties. Thus, despite two Covid-19 waves, premium growth for life insurers remains on a strong trajectory. Number of policies for all insurers has also grown by a robust 10% in FY22 till date. Private life insurers reported robust growth of 34% and 28% YoY in November in terms of total annualised premium equivalent (APE) and individual APE, respectively, shows data by ICICI Securities. On sequential basis, total APE and individual APE grew at 14.5% and 6.8%, respectively. The claims have bloated too.
Latest data from Insurance Regulatory and Development Authority of India (IRDAI) shows the death claims rose by 41% in FY21 to ₹41,958 crore. Whereas, earlier in FY20, the death claims rose by 11% to ₹29,793 crore. The death claims further rose drastically by five to ten times earlier this year in April amid deaths during the second Covid-19 wave, before cooling off as the pandemic situation came under control during the second half of the year. However, industry experts still see a multifold rise in claims ahead.
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At first I thought “India” was a typo, because of this story that was posted on FR within the past couple of days:
Indiana life insurance CEO says deaths are up 40% among people ages 18-64
(The Center Square) – The head of Indianapolis-based insurance company OneAmerica said the death rate is up a stunning 40% from pre-pandemic levels among working-age people.
“We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica,” the company’s CEO Scott Davison said during an online news conference this week. “The data is consistent across every player in that business.”
OneAmerica is a $100 billion insurance company that has had its headquarters in Indianapolis since 1877. The company has approximately 2,400 employees and sells life insurance, including group life insurance to employers in the state.
They have life insurance in India?
What the hell for?
Depends on which castes were talking.
Covid deaths in the US have raised life insurance payouts 15.7% among US insurers.
Actually, a record amount of life insurance was sold in 2020 and US insurers are sitting on record reserves.
Most people who died of covid were old and had zero life insurance or very small face amounts.
Life insurance companies typically exclude coverage for death caused by experimental medical treatment. These companies will ask for a bailout. I doubt they’ll be able to claim that the deaths were from vaccines especially when governments won’t let doctors put down that the vaccine caused death.
However, a German autopsy study did reveal most patients that died suddenly after being injected did die of inflammatory causes associated with the mRNA injections. The death certificate of course listed non vaccine related cause of deaths.
” The head of Indianapolis-based insurance company OneAmerica said the death rate is up a stunning 40% from pre-pandemic levels among working-age people”
I work in employee benefits and one product I sell is group life insurance. I have not seen the 44% increase in deaths and several other posters who post here who work in the same buisness have said they have not either.
The carrier in question may specialize with blue collar groups with lower wages -people who have higher drug use and suicides.
Too many factors.
Nearly all my carriers have not had rate increases or some have had rate decreases or payment holiday where the group does not have to pay the premium for a month. ..not a sign of 44% in deaths and claims.
It’s worldwide.
“Life insurance companies typically exclude coverage for death caused by experimental medical treatment”
That is 100% false.
I have been in the business for 40 years. No such thing. Tens of thousands of new medical experimental coverage has been done over the years and all have covered when the people die. My mom had one of the first experimental treatments for her pancreatic cancer and it was in the hundreds of thousands and all of her life insurances paid out.
There is only a handful of things why life insurance does not pay out. .. Murder, Suicide within first two years, lying on the application or ommitting information or risky behaviors such as skydiving or racing that was not disclosed and even most of those can be covered with a rider and non payment of premium.
The house I was born in had flush toilets in 1940. When I was working on my master’s at univ of Iowa in 1960, I visited my student friend’s homes in nearby towns and was shocked they only had outhouses.
“The house I was born in had flush toilets in 1940.”
A woman in her mid 90’s lived in an old coal company house near where I live and it only had an outhouse. I live in Western Appalachia. She never had an inside bathroom. Habit for Humanity or some like group found out and built her a bathroom with a septic tank a few years back.
I can’t imagine but she was used to it.
My wife is a horse vet and some of her clients only have well water with a hand pump. Think worse than Deliverence with a road going back to their house with two strips of gravel/mud with 16 inch ruts with high grass in the center that only a 4x4 can traverse.
United States - Historical Death Rate Data
| Year | Death Rate | Growth Rate |
|---|---|---|
| 2022 | 9.075 | 1.090% |
| 2021 | 8.977 | 1.090% |
| 2020 | 8.880 | 1.120% |
| 2019 | 8.782 | 1.120% |
| 2018 | 8.685 | 1.220% |
| 2017 | 8.580 | 1.240% |
| 2016 | 8.475 | 1.270% |
| 2015 | 8.369 | 1.270% |
>>Life insurance companies typically exclude coverage for death caused by experimental medical treatment.
Please provide a link.
See my post #9
He maybe thinking of health insurance by mistake
But, I thought the land of Ivermectin had solved Covid without rely on the deadly vaccines. So, how is this possible?
If I were working with a company requiring a jab, I would agree if they pay for a million dollar life insurance policy.
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