considered by life insurance underwriters are highly influenced by routine clinical assessments, often undertaken in acute situations following an episode of self-directed violence.
Recent celebrity deaths have brought the topic of suicide out of the shadows and sparked conversation about the causes for suicide and possible preventive measures.
From a financial point of view, the cost of suicide to society is significant in terms of lost productivity and income, and the life insurance industry annually pays out millions for suicide claims.
While non-natural deaths have generally been decreasing worldwide, death rates from non-natural causes have been climbing in the United States. RGA offers a deeper look at U.S. non-natural mortality experience in four categories – other accidents, suicides, motor vehicle accidents, and homicides – and compares trends to experience from six developed countries.
This article examines some of suicide’s impact on the U.S. life insurance industry, and also briefly looks at current practices and thoughts regarding suicide prevention.
https://www.soa.org/news-and-publications/newsletters/reinsurance/reinsu... (Click on March 2016, article appears on page 32)