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Excess Deaths in 2023 – Life Insurance Companies believe the numbers are Alarming

Excess deaths in 2023

‘Excess mortality’ continuing surge causes concerns

‘Excess mortality’ continuing surge causes concerns

Life insurance executives and actuaries believe the numbers are alarming

Life insurers paid record levels of claims in 2021,

biggest one-year increase since 1918

Distributed a record $100.28 billion in total death benefits.

Younger adult death rate up 20% in 2023

Center of Disease Control that show mortality rates alarmingly rising for different categories.

The surge in excess deaths caught carriers off guard

15 – 19 years

% difference from 2019

2018, 1%
2020, 21%
2021, 28%
2022, 21%
2023, (Jan – May), 24%

30 – 34 years

% difference from 2019

2018, -1%
2020, 30%
2021, 42%
2022, 30%
2023, (Jan – May), 23%

40 – 44 years

% difference from 2019

2018, -2%
2020, 30%
2021, 45%
2022, 30%
2023, (Jan – May), 25%

Cause of death data show increased cardiac mortality in all ages.

As COVID-related causes declined in 2022,

others rose, particularly stroke, diabetes, kidney and liver diseases.

Society of Actuaries poll

In August 2022, 85% thought excess morality rates would continue to 2025.

In September 2023, 79% believed excess mortality rates will continue through 2026.

UK data

https://app.powerbi.com/view?r=eyJrIjoiYmUwNmFhMjYtNGZhYS00NDk2LWFlMTAtOTg0OGNhNmFiNGM0IiwidCI6ImVlNGUxNDk5LTRhMzUtNGIyZS1hZDQ3LTVmM2NmOWRlODY2NiIsImMiOjh9

Our world in data link

https://ourworldindata.org/grapher/excess-mortality-p-scores-average-baseline
Credit to : Dr. John Campbell

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