Did the death rate skyrocket in 2021?

The CEO of one America Life insurance company said in 2021 deaths were up 40%. The most in history he said. It was surprising because I had heard death claims were up 1.5%. he said all life insurance companies experience the same increase. Does anyone have information that refutes or supports this 2021 statistic?

Thank you all.

32 minutes ago, RayJJohnsonJr said:

The CEO of one America Life insurance company said in 2021 deaths were up 40%. The most in history he said. It was surprising because I had heard death claims were up 1.5%. he said all life insurance companies experience the same increase. Does anyone have information that refutes or supports this 2021 statistic?

Thank you all.

He's actually CEO of OneAmerica, the holding company of American United Life Insurance Company.  He said death "claims" were up 40% for those in the insured working population (under 65).  It's based on OneAmerica's group and individual life insurance businesses, and as the current chair of ACLI (American Counsel of Life Insurers), Scott has a handle on what others have experienced as well.

Full disclosure - I work for OneAmerica.

I said one America when I meant OneAmerica, I do a lot of work with that company. They have the best long term care product in the industry. I went to the ACLI website before posting and could find nothing on 2021 death statistics spiking. When I search google for other similar information about skyrocketing deaths in 2021, I can't find anything other than the OneAmerica CEO’s statement. I'm trying to find some confirmation of this statistic being industry wide, but so far have not found that.

54 minutes ago, RayJJohnsonJr said:

I said one America when I meant OneAmerica, I do a lot of work with that company. They have the best long term care product in the industry. I went to the ACLI website before posting and could find nothing on 2021 death statistics spiking. When I search google for other similar information about skyrocketing deaths in 2021, I can't find anything other than the OneAmerica CEO’s statement. I'm trying to find some confirmation of this statistic being industry wide, but so far have not found that.

 

Scott has AUL numbers at his finger tips, and hence that is reliable - as far as I'm concerned (and OneAmerica is very forthcoming about financials with associates).  As far as industry wide information, it isn't something that may yet be publicly reported - but, as I've said, Scott is well connected, and he's commented several times that our experience is shared among others in the industry.  Wait till the companies report - they all have to - although it may be hard to find since it's almost all state based reporting.

And yes, we do have the best LTC policy in the business (and I bought it myself!)

Re-reading the original post, I ask caution with terms such as "deaths" and "death claims".  They are not interchangeable.

1 hour ago, david rigby said:

Re-reading the original post, I ask caution with terms such as "deaths" and "death claims".  They are not interchangeable.

David:  Thanks for reiterating that.  Our experience - as reported by our CEO - is that "claims" for life insurance death benefits for the working population (i.e. "group life benefits, and individual policy claims for working people) are up 40% - and the causes of death for the increase are "largely" COVID related (and that is based on a review of death certificates and other material provided in the claims process.)  Keep in mind "COVID related" also does not necessarily mean caused by COVID - but that COVID may have been a contributing factor)  In the U.S., about 2.5 million people die each year - but most are the elderly, not working anymore.  The number of working age people who die each year from all causes is considerably smaller, and hence a 40% increase in claims for that population is commensurately smaller as an absolute as well.

6 hours ago, MoJo said:

He's actually CEO of OneAmerica, the holding company of American United Life Insurance Company.  He said death "claims" were up 40% for those in the insured working population (under 65).  It's based on OneAmerica's group and individual life insurance businesses, and as the current chair of ACLI (American Counsel of Life Insurers), Scott has a handle on what others have experienced as well.

Full disclosure - I work for OneAmerica.

My sympathies. I worked for AUL and it was a horrible place to work.  Very clickish/managers who had no idea how to manage. Ugh! So glad to be gone. 

12 minutes ago, Riley Britton said:

My sympathies. I worked for AUL and it was a horrible place to work.  Very clickish/managers who had no idea how to manage. Ugh! So glad to be gone. 

Sorry to hear that.  Not sure when you worked there, or in what area, but a lot has changed in the 5+ years I've been there.  Been great for me!

I've been waiting for this shoe to drop. The other will be when the SSA actuaries announce that the retirement trust fund's ability to pay 100% of benefits has been extended by 1 or 2 years.

I found this website with excess death stats for most big countries. I extracted some US 2021 data. There's no cause f death available. Some might find tis interesting.

EXCESS MORTALITY 2022 BY AGE CATEGORIES.xlsx

Corrected missing column

EXCESS MORTALITY 2022 BY AGE CATEGORIES.xlsx