Continuous Mortality Investigation’s Post

Very interesting new paper on the use of the CMI mortality projections model by insurers and reinsurers - looks like many people are expecting to use the latest version of the model, and that the average estimated impact of the pandemic on liabilities has stayed at just below 2% (the 1.8% below is very similar to the result from CMI's previous benchmarking survey).

The Continuous Mortality Investigation (CMI) model is the most popular model used by insurers in the UK to express views of future mortality. The release of the latest model is a key event within a life actuary's calendar and, following consultation on the core parametrisation, #CMI_2023 was published on 18 April. In our latest newsflash, Megan Hart and Ross Murray take a first look at the model and its key updates. Click here to read more: https://okt.to/2UHXO9 #longevity #lifeinsurance #financialservices

Informative piece here from COVER Magazine and Swiss Re. In short, they are optimistic that long term mortality improvements will come from medical advances, improved technology and lifestyle changes. But, the short term still presents challenges - likely driven by the after effects of COVID and healthcare access/delays.

#COVID19 still sidelines many workers. While the potential risk of increased mortality is minimal, the #DI could be substantial. https://bit.ly/4b7imaP Dr. Robert Frank, medical director for LIBRA Insurance Partners explains. #riskmanagement #underwriting #lifeinsurance #disabilityinsurance #insuranceindustry

This week's Market Intelligence report includes: Integrity Wealth to expand access to comprehensive life, health and wealth solutions for more Americans; Average Medicare Supplement rate increases continue trending higher in 2024; State updates: Tri-Agency Rule Fixed Indemnity Notice; Uninsured rate fell by 26% between 2019 and 2023; Consumer knowledge gap persists despite booming Annuity sales. Read this week's details here: https://hubs.ly/Q02CKvNZ0

🌡️ Heat-Related Mortality & Morbidity: A Growing Concern for Actuaries As climate change drives more frequent and intense heatwaves, understanding heat-related mortality and morbidity is becoming crucial for actuaries. The non-linear nature of heat impacts—where mortality rates spike sharply above certain temperature thresholds—poses unique challenges for traditional actuarial models. Actuaries are now integrating demographic, socioeconomic, and climate data to develop more sophisticated risk assessments, essential for insurers, policymakers, and healthcare systems. 🔍 Dive deeper into the actuarial insights on this critical issue by reading the full article here: https://lnkd.in/ebH7UDek

𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐈𝐥𝐥𝐧𝐞𝐬𝐬 𝐢𝐬 𝐦𝐨𝐫𝐞 𝐔𝐧𝐜𝐨𝐦𝐦𝐨𝐧 – 𝐒𝐚𝐟𝐞𝐠𝐮𝐚𝐫𝐝 𝐲𝐨𝐮𝐫𝐬𝐞𝐥𝐟, 𝐲𝐨𝐮𝐫 𝐟𝐚𝐦𝐢𝐥𝐲 & 𝐡𝐚𝐫𝐝-𝐞𝐚𝐫𝐧𝐞𝐝 𝐦𝐨𝐧𝐞𝐲! Buying a critical illness cover is essential to protect an individual's family from medical uncertainty. It helps to provide financial protection in the event of a severe health condition, such as cancer, heart attack, stroke, organ transplantation, and other major illnesses. The unique feature of Critical illness is that the payout is Lumpsum so that one can get treatment done without financial worries. 👉There are a few points on the checklist to consider before you buy CI: ✓ 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐈𝐥𝐥𝐧𝐞𝐬𝐬𝐞𝐬 Understand the list of critical illnesses covered by the policy. Ensure that the policy covers the critical illnesses that concern you or are relevant to your family's medical history. ✓ 𝐒𝐮𝐫𝐯𝐢𝐯𝐚𝐥 𝐂𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧 Critical Illness Insurance plans settle claims only if the policyholder survives a specified waiting period after diagnosing a critical illness (commonly 30 days). ✓ 𝐖𝐚𝐢𝐭𝐢𝐧𝐠 𝐏𝐞𝐫𝐢𝐨𝐝 Critical illness policies may have waiting periods before coverage becomes effective. 🔗To learn more, read the article (link in the comment section). Hit the bell 🔔 icon to follow me for personal finance content. 🔁SHARE this post with your friends and family if you found it insightful. #insuranceplanning #criticalillnessinsurance #personalfinance #financialplanning #salmasony #linkedincreator

You still have time to use your remaining HSA/FSA funds to book a SonoCiné exam! Body scan reimbursement is eligible even if the individual is not experiencing symptoms of illness and has not obtained a doctor's recommendation before undergoing the procedure because it is considered diagnosis under the IRS definition of medical care. If you have remaining #FSA or #HSA funds for the year, you can use your FSA or Health Savings Account (HSA) towards the cost of a #SonoCine #breast exam. Don’t hesitate to DM us if you have any questions or to book your scan! #sonocine #breastultrasound #proactivehealthcare #proactivehealth #preventativehealthcare #breastcancer #preventativehealth #medicalimaging #imagingtechnology #earlydetection #earlydetectioniskey #HSA #FSA #breastcancerawareness

Population mortality experience is still higher than pre-pandemic levels, spurring more of a requirement for insurance protection. Life expectancy is expected to increase with medical advancements, lifestyle changes and AI use in diagnostics. Read on for the first part of Swiss Re's look at this and the impact on underwriting  https://lnkd.in/exewAfwc #swissre #protectioninsurance

This study in Health Affairs shows how health care financial pressures are continuing to negatively impact US consumers, either through high out-of-pocket spending on premiums and care relative to income and assets, medical debt, or delays in care due to cost. Using data from 2018-2019, authors found that over a quarter (27%) of non-senior adults live din families with at least one of these three financial strains. Interestingly, having a family member with #cancer was not associated with increased financial burden frequency, but having a family member with #diabetes or with limitations was. https://lnkd.in/gmQfpRZQ