Hmmmmmmm.
The elderly and infirm don’t have a lot of new policies. Their whole life plans were paid for years ago. Their term plans have run out. And many of their funerals have been prepaid.
This whole thing will end up positive for Medicare and Social Security. Half a million people dead—think of how much SS will not be paid now.
Doesn’t seem that strange to me.
When you apply for insurance you have to reveal any pre-existing conditions. So if you know you have Covid, you’d have to reveal that.
But if you don’t know, then you’re odds of dying is 1.6% across all ages. They probably aren’t writing you insurance in your 70’s or 80’s, so you’re odds of dying is less than 1.6%. It’s been a year and only 10% of the nation has gotten covid. Arguably because of the social distancing and masks and work from home.
So the odds of a new customer dying from covid is <1.6% * 10% = 0.16%. 99.84% of the time, the insurance company will be able to collect the premium and not have a payout for years or decades.
EVERYTHING about this doesn’t make sense.
Unless you look at it as part of an unbroken sequence. Russia Russia Russia - Ukraine Ukraine Ukraine - Impeachment - Impeachment Fails - Scary Disease Enabling Masked Activists to Own the Streets - Lockdown Allowing For Mail-In Voting - Blatantly Obvious Election Steal - Impeachment Just Because.
Then it kinda comes into focus a little better.
I work in life insurance, and I am not certain the info you received is correct as to insurance companies and underwriting.
As for rates, the rates cannot be changed until mortality tables change, which happens very infrequently. And, as for United States experience, it may be that the mortality experience was within the margins of error for expected mortality.
I do know that the insurance companies we work with were adding special forms and/or requiring additional affidavits as a part of the underwriting process, so that a person’s Covid infection could be used to deny claims as fraud or material misrepresentation, should the proposed insured be trying to obtain insurance WHILE having Covid 19.
Just my experience and observations....
A slight aside but I heard a climatologist explain that if people really believed the oceans were going to rise due to climate change they wouldn’t be building more and more condos in Miami and Palm Beach. And couldn’t insure them if they did.
Some people (Big Pharma) make more money when they say “existential crisis” even when there is no existential crisis.
Other people (Insurance firms) lose money when an actual existential crisis does occur. They don’t seem to be too worried by this thing.
Follow the money.
Verrrry interesting.
further proof...
Shhh. You’re supposed to be injecting rat poison “vaccines” into your system and closing down small businesses Nationwide.
All these facts about the Great Scamdemic are racist!!! Fauci said we have to inject poison into our bodies to “stop COVID,” so it must be true.
Silly person!
on another thread many moons ago, someone pointed out to see the real danger/impact of something,, look at the insurance on it ..
this is another good example , thanx
That is fascinating and something that’s important.
Rather interesting, isn’t it...
Once the miracle experimental treatments are forced on everyone, no one will die of COVID-19 and with COVID-19 cured, and all other causes of death already eliminated, no one will ever die.
Seriously, the government lying about COVID-19 as a cause of death has screwed up actuarial tables for a decade.
The median age at death before COVID was 78. The median age at death after COVID was 78. Yes there was an increase in the number of deaths last year, but as far as I could tell, life expectancy didn’t change all that much.