Information today from the United States, from the life insurance industry that shows deaths in young adults in 2023 so far are 20% above what we would expect…
…And they do use quite strong words like, the numbers are ALARMING.
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 mortality rates would continue to 2025. In September 2023, 79% believed excess mortality rates will continue through 2026.
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