How COVID-19 Affected Life Insurance and Brought About the Changes You May See Soon

Started by Epoch-Times-Bot, Dec 10, 2022, 11:45 AM

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Epoch-Times-Bot

Dec 10, 2022, 11:45 AM
How COVID-19 Affected Life Insurance and Brought About the Changes You May See Soon

The life insurance industry has permanently changed due to COVID-19. The pandemic and the large number of deaths caused by it produced a rush to get life insurance policies—which has placed a degree of uncertainty in the marketplace with insurers trying to calculate just how much to charge.
The biggest problems that the industry faces at present are that there is not enough information available yet to make accurate calculations of costs. The payouts were much larger than ever.
COVID-19 brought a massive increase in payments in 2020 to beneficiaries, CNBC said, coming to more than $90 billion. It was an increase of 15.4 percent above the previous year. In 2021, payouts increased another 11 percent, costing life insurance companies more than $100 billion....

Source: How COVID-19 Affected Life Insurance and Brought About the Changes You May See Soon

xenzol

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Jun 23, 2024, 07:53 AM

xenzol

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