LIMRA, the Reinsurance Group of America (RGA), the Society of Actuaries (SOA) and TAI have collaborated on an ongoing effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience and share the emerging results with the insurance industry and the public.
As many Americans return to post-pandemic normalcy, life insurers are as well, with many companies curtailing or eliminating underwriting restrictions that have been in place since March 2020.
In 2020, RGA produced a five-part series of articles exploring life insurance fraud in the time of COVID-19 as a lead-up to the RGA Fraud Conference. One year later, with the ninth annual RGA Fraud Conference set for August 16-20, we checked back in with the authors of those articles to learn how the climate for fraud may have changed as the pandemic has evolved and how the industry can prepare for what lies ahead.
Will the COVID-19 pandemic cause ‘diseases of despair’ to rise and will this affect long term trends in mortality and morbidity?
Munich Re Life US conducted an accelerated underwriting survey to capture new and emerging trends in the U.S. individual life accelerated underwriting market.
Options range from the most severe—refusing to extend coverage—to treating the virus like cancer, respiratory illnesses and other conditions that must be disclosed when applying for life insurance.
Quest continues to monitor COVID-19 and contribute to the scientific community’s understanding of this novel disease.
While clinicians have a better understanding of COVID‑19 disease, science is still struggling to make sense of its long-lasting symptoms, known as Long COVID, and what “long haulers” have in common.
The coronavirus vaccine will lead to Covid underwriting restrictions being reduced or removed, according to an insurer.
A small but significant amount who have “recovered” from the acute phase of the illness still have a degree of disability which affects their day-to-day living. These are the “long haulers”—those in whom COVID has spared in the short term but in whom we have truly no idea of what the long term prognosis will be, either morbidity or mortality wise.