Dr. Steven Weisbart \nTriple-I Chief Economist<\/figcaption><\/figure>\n<\/div>\n\u201cIt\u2019s \nunlikely that all the people who\u2019ve died from COVID-19 had individual life \ninsurance, since many were age 60 or over,\u201d Weisbart says. \u201cEven if we assume a \nthird of these were insured \u2013 and, further, that two-thirds of younger people \nwho died also had life insurance \u2013 and that all these claims were in addition \nto other causes of death, that would be 150,000 claims.\u201d<\/p>\n
In 2018, the latest year for which we have data, beneficiaries \nunder 2.7 million individual life insurance policies received death benefits. \nSo, although 150,000 additional death claims represent a large human toll, they \nwould be only a 5.6 percent increase over the 2.7 million baseline. <\/p>\n <\/figure>\n\u201cThat would result in total death benefits being paid to 2.85 \nmillion beneficiaries,\u201d Weisbart says. \u201cThis is roughly the same as occurred in \n2015 and well below the peak of 3.5 million in 2012.\u201d <\/p>\n
In other words, even with our conservative assumptions, paying the \nadditional deaths claims due to the pandemic is well within the industry\u2019s financial \nand operational ability.<\/p>\n","protected":false},"excerpt":{"rendered":"
Will life insurers be able to pay all the death claims attributable to COVID-19 that come on top of claims for deaths not directly related to the pandemic? Triple-I chief economist Dr. Steven Weisbart says they can. How many additional death claims will COVID-19 cause? As of this writing, officially about 90,000 Americans have died […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/posts\/348"}],"collection":[{"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/comments?post=348"}],"version-history":[{"count":1,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/posts\/348\/revisions"}],"predecessor-version":[{"id":349,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/posts\/348\/revisions\/349"}],"wp:attachment":[{"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/media?parent=348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/categories?post=348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidestudio.co\/index.php\/wp-json\/wp\/v2\/tags?post=348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}