Life Insurance companies have been reporting above average deaths for adults aged 35-44 for months.
While you may not like Zero Hedge, the same data is coming from The Epoch Times.
https://www.theepochtimes.com/adults-aged-35-...=ZeroHedge
HOW CAN YOU DISPUTE THIS REPORT??
Society of Actuaries Research Institute Group Life COVID-19 Mortality Survey
Report Section 1: Purpose of the Survey The purpose of this survey was to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic, as compared to prior period baseline mortality results.
This report is an update to the previous Group Life COVID-19 Mortality Survey published in January 2022, which included pandemic data from April 2020 through September 2021.
This update includes Group Life mortality results from April 2020 through March 2022 (referred to in this report as the “pandemic period”), representing 24 months of Group Life mortality experience during the COVID-19 pandemic.
COVID-19 is caused by the novel coronavirus SARS-CoV-2, which was identified in 2019. As of the writing of this document, complications from COVID-19 have resulted in more than 1.0 million deaths in the U.S. alone, and more than 6.4 million worldwide.
The survey was conducted by the Group Life Experience Committee (the Committee) of the Society of Actuaries and has been structured as a recurring monthly data collection and compilation process from U.S. Group Term Life insurers .
The datasets for this report encompass all Group Term Life claims for the calendar years 2017–2022 reported to participating carriers as of March 31, 2022, and include more than 2.3 million claims and more than $103 billion in earned premium.
The Committee is grateful that 20 of the top 21 U.S. Group Term Life insurers focused on employer groups are participating in this survey, with market share representing roughly 90% of the employer-based Group Term Life industry.
Thus, the Committee believes the findings herein are representative of the COVID-19 mortality impact on the U.S. Group Term Life industry as a whole.
Guiding principles for the survey include the following: • Providing timely information on total high-level Group Life mortality results versus baseline expectations during the pandemic is the most important goal.
Thus, the survey is not a seriatim mortality study. Rather, it is a synopsis of monthly Group Life exposures, death counts and amounts. • It is critical for this survey to compare current Group Life mortality from all causes of death to the baseline expected all-cause mortality levels.
The Committee recognizes that there are limitations in the ability to code deaths as COVID-19 related, within both the general population and Group Life exposures. Also, the survey seeks to analyze whether the pandemic has had indirect impacts on population mortality, beyond deaths associated directly with the COVID-19 virus.
Thus, tracking just Group Life deaths coded with a cause of COVID-19 may not accurately measure the total impact of the pandemic. •
The Committee asked carriers to provide segmentation data when feasible.
However, the Committee did not want the additional detailed data request to become so onerous that it materially delayed the survey reporting process or shrank the number of carriers willing and able to participate.
Thus, the survey includes high-level exposure and claims data for all 20 carriers, but much of the segmentation data are based on results for just subsets of carriers.
Society of Actuaries Research Institute Section 2: Overview 2.1 Carriers provided a complete set of monthly Group Life exposures dating back to January 2017, along with all Group Life death claims reported in January 2017 or later.
The reported death claims also identified the months of death, i.e., incurred months. Exposures and deaths during the three-year period of 2017–2019 were used to set baseline mortality expectations.
The dataset for this report encompasses all Group Life claims reported to participating carriers as of March 31, 2022. Reported claims are easier to measure than incurred claims, but they do not tell the full story about Group Life mortality through March 2022 because the reported claims in a given month include deaths from prior periods.
Therefore, claim reporting patterns from prior periods have been analyzed to develop completion factors, which are used to estimate incurred but not yet reported (IBNR) claims for each month.
This enabled the Committee to estimate incurred claims for each month up through March 2022.
As in prior reports, the most recent one-to-two incurral months should not be fully relied upon because of the maturity of the completion of reported claims, with the completion factors for the most recent two months falling in the 30%–35% and 70%–75% ranges, respectively.
The Committee has observed significant reporting lag volatility over the course of the study, resulting in volatility of incurred incidence development over time, especially in the most recent incurred months.
2.2 SCOPE The following specifications were used to define claims and exposures within the survey: • Include Group Term Life only. Exclude Group Whole Life, Group Universal Life, Company-Owned Life Insurance, 10- or 20-year Group Term, etc. • Include both list billed and self-administered business. • Include employee, spouse and child exposures and deaths. • Include both active and retired lives and claims. • Include death benefits only; exclude riders, interest payments and claims expenses. • Include only the life insurance benefit for accidental deaths; exclude any additional Accidental Death and Dismemberment rider amounts. •
Exclude Waiver of Premium disabilities but include deaths from persons on Waiver of Premium status. • Portability and Conversion exposures and claims may be either included or excluded based on each company’s internal reporting procedures.
2.3 SURVEY HIGHLIGHTS Tables 2.1 through 2.41 display high-level incidence results for the second quarter of 2020 through the first quarter of 2022 compared to the 2017-2019 baseline period for each combination of (a) incurred/reported basis and (b) count/amount basis as of March 31, 2022.
In these tables, the number of COVID-19 claims has not been adjusted for seasonality, but the ratios to baseline have been adjusted for seasonality. Note that additional data reported in April and May 2022 indicated that the 1Q 2022 excess mortality would likely complete downward from the 19.9% shown below using March data. The fully complete 1Q 2022 excess mortality is expected to remain above 15%.
On Page 39 of the report is a list of Participating Companies.
Do you mistrust them too?
Aflac
Anthem
Dearborn National Guardian
The Hartford
Lincoln Financial Group
MetLife
Mutual of Omaha
New York Life
Group Benefit Solutions
OneAmerica
Principal Financial
Reliance
Standard Renaissance
Securian Financial Group
Standard Insurance Group
SunLife Financial Group
Symetra
Unum
USAble
Voya
The report is 56 pages and can be viewed here:
https://www.documentcloud.org/documents/22275...022-report
You continue to be a supporter of Pedo Joe's Jabarama. I hope you enjoy your future diet of BUGS.
While you may not like Zero Hedge, the same data is coming from The Epoch Times.
https://www.theepochtimes.com/adults-aged-35-...=ZeroHedge
HOW CAN YOU DISPUTE THIS REPORT??
Society of Actuaries Research Institute Group Life COVID-19 Mortality Survey
Report Section 1: Purpose of the Survey The purpose of this survey was to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic, as compared to prior period baseline mortality results.
This report is an update to the previous Group Life COVID-19 Mortality Survey published in January 2022, which included pandemic data from April 2020 through September 2021.
This update includes Group Life mortality results from April 2020 through March 2022 (referred to in this report as the “pandemic period”), representing 24 months of Group Life mortality experience during the COVID-19 pandemic.
COVID-19 is caused by the novel coronavirus SARS-CoV-2, which was identified in 2019. As of the writing of this document, complications from COVID-19 have resulted in more than 1.0 million deaths in the U.S. alone, and more than 6.4 million worldwide.
The survey was conducted by the Group Life Experience Committee (the Committee) of the Society of Actuaries and has been structured as a recurring monthly data collection and compilation process from U.S. Group Term Life insurers .
The datasets for this report encompass all Group Term Life claims for the calendar years 2017–2022 reported to participating carriers as of March 31, 2022, and include more than 2.3 million claims and more than $103 billion in earned premium.
The Committee is grateful that 20 of the top 21 U.S. Group Term Life insurers focused on employer groups are participating in this survey, with market share representing roughly 90% of the employer-based Group Term Life industry.
Thus, the Committee believes the findings herein are representative of the COVID-19 mortality impact on the U.S. Group Term Life industry as a whole.
Guiding principles for the survey include the following: • Providing timely information on total high-level Group Life mortality results versus baseline expectations during the pandemic is the most important goal.
Thus, the survey is not a seriatim mortality study. Rather, it is a synopsis of monthly Group Life exposures, death counts and amounts. • It is critical for this survey to compare current Group Life mortality from all causes of death to the baseline expected all-cause mortality levels.
The Committee recognizes that there are limitations in the ability to code deaths as COVID-19 related, within both the general population and Group Life exposures. Also, the survey seeks to analyze whether the pandemic has had indirect impacts on population mortality, beyond deaths associated directly with the COVID-19 virus.
Thus, tracking just Group Life deaths coded with a cause of COVID-19 may not accurately measure the total impact of the pandemic. •
The Committee asked carriers to provide segmentation data when feasible.
However, the Committee did not want the additional detailed data request to become so onerous that it materially delayed the survey reporting process or shrank the number of carriers willing and able to participate.
Thus, the survey includes high-level exposure and claims data for all 20 carriers, but much of the segmentation data are based on results for just subsets of carriers.
Society of Actuaries Research Institute Section 2: Overview 2.1 Carriers provided a complete set of monthly Group Life exposures dating back to January 2017, along with all Group Life death claims reported in January 2017 or later.
The reported death claims also identified the months of death, i.e., incurred months. Exposures and deaths during the three-year period of 2017–2019 were used to set baseline mortality expectations.
The dataset for this report encompasses all Group Life claims reported to participating carriers as of March 31, 2022. Reported claims are easier to measure than incurred claims, but they do not tell the full story about Group Life mortality through March 2022 because the reported claims in a given month include deaths from prior periods.
Therefore, claim reporting patterns from prior periods have been analyzed to develop completion factors, which are used to estimate incurred but not yet reported (IBNR) claims for each month.
This enabled the Committee to estimate incurred claims for each month up through March 2022.
As in prior reports, the most recent one-to-two incurral months should not be fully relied upon because of the maturity of the completion of reported claims, with the completion factors for the most recent two months falling in the 30%–35% and 70%–75% ranges, respectively.
The Committee has observed significant reporting lag volatility over the course of the study, resulting in volatility of incurred incidence development over time, especially in the most recent incurred months.
2.2 SCOPE The following specifications were used to define claims and exposures within the survey: • Include Group Term Life only. Exclude Group Whole Life, Group Universal Life, Company-Owned Life Insurance, 10- or 20-year Group Term, etc. • Include both list billed and self-administered business. • Include employee, spouse and child exposures and deaths. • Include both active and retired lives and claims. • Include death benefits only; exclude riders, interest payments and claims expenses. • Include only the life insurance benefit for accidental deaths; exclude any additional Accidental Death and Dismemberment rider amounts. •
Exclude Waiver of Premium disabilities but include deaths from persons on Waiver of Premium status. • Portability and Conversion exposures and claims may be either included or excluded based on each company’s internal reporting procedures.
2.3 SURVEY HIGHLIGHTS Tables 2.1 through 2.41 display high-level incidence results for the second quarter of 2020 through the first quarter of 2022 compared to the 2017-2019 baseline period for each combination of (a) incurred/reported basis and (b) count/amount basis as of March 31, 2022.
In these tables, the number of COVID-19 claims has not been adjusted for seasonality, but the ratios to baseline have been adjusted for seasonality. Note that additional data reported in April and May 2022 indicated that the 1Q 2022 excess mortality would likely complete downward from the 19.9% shown below using March data. The fully complete 1Q 2022 excess mortality is expected to remain above 15%.
On Page 39 of the report is a list of Participating Companies.
Do you mistrust them too?
Aflac
Anthem
Dearborn National Guardian
The Hartford
Lincoln Financial Group
MetLife
Mutual of Omaha
New York Life
Group Benefit Solutions
OneAmerica
Principal Financial
Reliance
Standard Renaissance
Securian Financial Group
Standard Insurance Group
SunLife Financial Group
Symetra
Unum
USAble
Voya
The report is 56 pages and can be viewed here:
https://www.documentcloud.org/documents/22275...022-report
You continue to be a supporter of Pedo Joe's Jabarama. I hope you enjoy your future diet of BUGS.
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