We are delighted to make available the latest Mortality Report from one of our partners, UNISURE.
People are living longer than ever before, however longer lives do not necessarily equal healthier lives.
It is a fact today that people are living longer, but an increasing number are living with chronic disease. This is leading to a high cost for critical illness insurance.
Think of the effects on a family if the primary breadwinner suffers a heart attack?”
Over 80% of all critical illness claims in the UK are from people in the age range 40-64 years old. The average age in the UK for a claim is 49. In the US the average age is 55.
An interesting point in the report was around Covid-19. As we know the pandemic has had a large impact on lifestyle with lockdowns and restrictions in 2020. How has it impacted the pricing, underwriting and claims? Interesting that at this time, there has been little or no impact on either pricing or claims. The greatest impact Covid-19 is having on life insurers is a more conservative approach to underwriting.
To read the full report – please download below.