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Working-Age Deaths Up Whopping 40% and NOT Just From COVID, Says Life Insurance CEO
"What we saw just in third quarter, we're seeing it continue into fourth quarter, is that death rates are up 40% over what they were pre-pandemic," Davison said in a virtual news conference just before the New Year.
"We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica."
The increased death are occurring almost exclusively among "working-age people 18 to 64."
Davison told viewers, "Just to give you an idea of how bad that is, a three-sigma or a one-in-200-year catastrophe would be 10% increase over pre-pandemic."
"40% is just unheard of," he concluded.