Indiana life insurance CEO says deaths are up 40% All Cause Mortality
Indiana’s life insurance CEO says deaths among people ages 18 to 64 are up 40%. Pro Life Tips https://linktr.ee/prolifetips
The head of Indianapolis-based insurance company OneAmerica said the death rate was up a staggering 40% from pre-pandemic levels among working-age people. “We’re seeing the highest mortality rates right now that we’ve 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 all players in this business.” OneAmerica is a $100 billion insurance company that has been headquartered in Indianapolis since 1877. The company employs approximately 2,400 people and sells life insurance, including group life insurance, to state employers. Davison said the increase in deaths represented a “huge, huge number” and that it wasn’t older people who died, but “primarily people of working age between 18 and 64” who are employees of companies that have group life insurance plans have one america. “And what we’ve just seen in the third quarter, we’re seeing it continue into the fourth quarter, is the death rates are 40% higher than before the pandemic,” he said. “Just to give you an idea of how bad this is, a three sigma catastrophe or a catastrophe in 200 years would be a 10% increase from pre-pandemic levels,” he said. “So 40% is just outrageous.” Davison was one of several business leaders speaking during the Dec. 30 virtual press conference hosted by the Indiana Chamber of Commerce. Most of the deaths filed are not classified as COVID-19 deaths, Davison said. “What the data shows us is that the deaths reported as COVID deaths grossly underestimate the actual deaths among working-age people from the pandemic. It may not all be COVID on her death certificate, but the death toll is just huge, huge.” At the same time, he said the company is seeing a “surge” in disability claims, with first being short-term disability claims and now long-term disability claims . “For OneAmerica, we anticipate costs will be well over $100 million and this is our smallest deal. So it has a big impact on that,” he said. He said the cost would be passed on to employers who buy group life insurance policies, who would have to pay higher premiums. Thanks for watching and please subscribe. Please check the links in the description. Indiana’s life insurance CEO says deaths among people ages 18 to 64 are up 40%. #death rate #40% #CEO #Indiana .
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