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 from COVID-19. In addition, there have been other deaths that seem excessive relative to “normal” statistics in prior years, suggesting the COVID-19 numbers are an undercount. It’s also possible that the “lockdown” imposed nearly nationally in late March, April, and in part of May, added to the total through suicide, drug overdoses, untreated conditions that…

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 from COVID-19. In addition, there have been other deaths that seem excessive relative to “normal” statistics in prior years, suggesting the COVID-19 numbers are an undercount. It’s also possible that the “lockdown” imposed nearly nationally in late March, April, and in part of May, added to the total through suicide, drug overdoses, untreated conditions that…

COVID-19 has changed many aspects of our lives, so it isn’t surprising to see life insurance markets affected. But some stories create false impressions that should be corrected. The story that some life insurers are writing fewer policies “because of COVID-19” has gained traction in both traditional and social media. While not wrong, like other stories involving insurance and COVID-19, it requires context to keep it from wandering off into urban legend territory. “Life insurers’ ability to keep their promises to policyholders depends on numerous factors,” explains Triple-I chief economist Dr. Steven Weisbart.  “Among them are interest rates and how responsibly insurers underwrite policies and manage their investments.” Dr. Steven…

COVID-19 has changed many aspects of our lives, so it isn’t surprising to see life insurance markets affected. But some stories create false impressions that should be corrected. The story that some life insurers are writing fewer policies “because of COVID-19” has gained traction in both traditional and social media. While not wrong, like other stories involving insurance and COVID-19, it requires context to keep it from wandering off into urban legend territory. “Life insurers’ ability to keep their promises to policyholders depends on numerous factors,” explains Triple-I chief economist Dr. Steven Weisbart.  “Among them are interest rates and how responsibly insurers underwrite policies and manage their investments.” Dr. Steven…