If I find more, I'll forward. Insurance is like a pyramid scheme. Actuarial tables allow them to know death stats and trends so they know how to stay ahead. Big spike in mortality puts them in an unsustainable position. They don't have the funds. They will come up with a way to not pay or they cease to exist.
They're also jacking up the prices for new policies sky high to help counteract the payouts. If you didn't have a policy in place before the pandemic it's going to be difficult to find a reasonably priced policy for awhile.
Interestingly enough, right before the pandemic, I read an article about how the Baby Boomer generation dying off was going to disrupt the industry and cause policies to cost much more so my husband and I both got our policies then. I feel lucky we got them before the costs increased. Now fingers crossed the company doesn't fold.
I would not like to be them right now. Excess mortality in the 18 to 40 age range mostly. They always release an anticipatory cover story knowing most will dismiss without closer examination.
If I find more, I'll forward. Insurance is like a pyramid scheme. Actuarial tables allow them to know death stats and trends so they know how to stay ahead. Big spike in mortality puts them in an unsustainable position. They don't have the funds. They will come up with a way to not pay or they cease to exist.
They're also jacking up the prices for new policies sky high to help counteract the payouts. If you didn't have a policy in place before the pandemic it's going to be difficult to find a reasonably priced policy for awhile.
Interestingly enough, right before the pandemic, I read an article about how the Baby Boomer generation dying off was going to disrupt the industry and cause policies to cost much more so my husband and I both got our policies then. I feel lucky we got them before the costs increased. Now fingers crossed the company doesn't fold.
I would not like to be them right now. Excess mortality in the 18 to 40 age range mostly. They always release an anticipatory cover story knowing most will dismiss without closer examination.