Life - Articles

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Why inflexible 25 year policies make no sense

Aside from life insurance, there is no other insurance product that keeps consumers tied in for 25 years, with little to no flex to their policy. Phil Zeidler, co-founder of DeadHappy, argues that this outdated approach is leading to consumers hugely overpaying for insurance policies – to the tune of £1.2bn per year - that aren’t even fit for purpose.
Posted on Tuesday Oct 19

Sustained excess mortality during third quarter of 2021

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The updates cover week 39 of 2021 (25 September to 1 October) and the third quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 12 October 2021.
Posted on Wednesday Oct 13

Latest life expectancy figures and pension survey from ONS

The ONS have released the latest national life tables, exploring life expectancies in the UK using data for the period 2018 to 2020 – the first national life tables to include data from during the COVID-19 pandemic. they have also published their latest Financial Survey of Pension Schemes.
Posted on Thursday Sep 23

The top five myths debunked on Covid and Life Insurance

Dominic Holton, COO at DeadHappy, says: “With the pandemic having a substantial effect on people’s health, consumers are concerned and rightly so. It’s a new situation for everyone and so, with that, comes lots of questions around the impact this has on their insurance.”
Posted on Friday Sep 10

CMI notes a return of excess deaths in recent weeks

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The update covers week 30 of 2021 (24 to 30 July), based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 10 August 2021.
Posted on Wednesday Aug 11

Insurers should know support before diagnosis is important

RedArc is encouraging insurers to remember that support is available before a condition has been confirmed, or is eligible for a claim, so that their clients and policyholders can benefit from support and reassurance whilst they wait for tests, test results and follow-on appointments.
Posted on Tuesday Aug 10

Life survey shows a new legacy towards Health and Wellbeing

A new global study1 by HSBC Life – the HSBC Group’s insurance business – shows that a health legacy is emerging as people look forward to a life beyond the pandemic.
Posted on Tuesday Jul 27

Mortality rates at record low during second quarter of 2021

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. This update covers week 26 of 2021 (26 June to 2 July) and the second quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 13 July 2021.
Posted on Wednesday Jul 14

Actuarial Reporting Automation survey

Global life and property and casualty (P&C) insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years. These key learnings stem from a new survey by Willis Towers Watson. The Actuarial Reporting Automation survey queried life and P&C insurers on how they use automation today in their valuation (life) and reserving (P&C) processes and where they aspire to use it in the future.
Posted on Tuesday Jul 13

93 percent of Long Covid sufferers get support from employer

As more is learned about the symptoms and effects of ‘Long-Covid’ research by Canada Life has revealed that the majority of employers are helping to support their colleagues.
Posted on Thursday Jun 10

Mortality remains low for the time of year

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Wednesday Jun 9

Covid19 claims cost Life Reinsurers billions

The cumulative cost of COVID-19 claims for the largest life reinsurers hit $4.4 billion in the first quarter of the year as mortality rates spiked, a new report published by Bloomberg Intelligence (BI) says.
Posted on Tuesday Jun 1

Royal London removes Covid19 restrictions to underwriting

Royal London has removed restrictions to its underwriting philosophy put in place last year due to COVID-19. The mutual insurer will continue to ease restrictions with the aim of returning to a pre-pandemic underwriting philosophy.
Posted on Monday May 24

CMI says mortality is low for the time of year

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The latest update covers week 17 of 2021 (24 April to 30 April) based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 11 May 2021.
Posted on Wednesday May 12

Only a third of over 50s had life insurance in the past year

Most over-50s didn’t have life insurance at any point during the pandemic, with cover having slipped down the priorities list for many.
Posted on Wednesday Apr 14

CMI notes deaths below normal levels in recent weeks

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Wednesday Apr 14

CMI notes over 50 thousand excess deaths in second wave

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The latest update covers week 8 of 2021 (20 February to 26 February) based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 9 March 2021.
Posted on Wednesday Mar 10

CMI Model shows modest fall in cohort life expectancy

The Continuous Mortality Investigation (CMI) has released the latest annual update to the CMI Mortality Projections Model, CMI_2020. Mortality rates in England and Wales in 2020 were on average 12% higher than in 2019 because of the coronavirus pandemic.
Posted on Friday Mar 5

Future of longevity not necessarily worsened by pandemic

Aon has cautioned against over-stating the negative impact of the pandemic and its aftermath on the longevity assumptions of UK pension schemes.
Posted on Friday Feb 26

CMI notes excess deaths starting to fall

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Tuesday Feb 23

Life Cover Payouts Changing Direction

In 2019 Swiss Re highlighted the registration threat that anti-money laundering legislation brought to trusts, namely unintended consequences meaning that claimants under life assurance or life and critical illness policies may not be able to receive the proceeds their partner had intended for them.
Posted on Wednesday Feb 17

Get ready for a silver surge

‘Going on holiday’ is the thing people over 50 are most looking forward to doing again when life goes back to ‘normal’, which could mean a multi-billion pound boost for the travel industry
Posted on Friday Feb 5

Life and Health insurance to see positive impact from Covid

The life and health insurance markets will see the most positive impact from the COVID-19 pandemic, according to a GlobalData poll. The pandemic has caused major disruption to a myriad of businesses, resulting in some insurance lines seeing huge declines in business, but some products may also benefit in the longer term.
Posted on Friday Jan 29

Report on the next generation of automated underwriting

Munich Re Automation Solutions, the world leading provider of digital new business, underwriting and analytics solutions to the life insurance industry, has today launched a report laying out the next generation of automated underwriting.
Posted on Wednesday Jan 27

What most are looking forward to after lockdown

SunLife’s Covid-19 Study asked more than 1,000 people in their 50s, 60s, 70s and 80s what is the ONE thing you are most looking forward to getting back after lockdown, and holidays/travelling came out on top; the research follows reports that holiday and tour operators have seen a doubling in demand from over 50s expecting to haven received their Covid-19 vaccines by the summer
Posted on Tuesday Jan 26