US life insurance company paid out 163% more for deaths of workers 18-64 in 2021(crossroadsreport.substack.com)
crossroadsreport.substack.com
US life insurance company paid out 163% more for deaths of workers 18-64 in 2021
https://crossroadsreport.substack.com/p/breaking-fifth-largest-life-insurance
16 comments
https://www.usnews.com/news/health-news/articles/2022-04-22/...
> Overall deaths in 2021 increased from 2020 by 1%, according to the CDC data on death rates.
> Overall deaths in 2021 increased from 2020 by 1%, according to the CDC data on death rates.
This is pretty absurd conclusions.
A few things: reporting lag for death claims are typically 3-18 months. Covid claims are obviously still occurring in 2021. It has been widely reported that non covid related deaths during the pandemic, specifically related to heart disease and diabetes, were much higher likely due to delayed medical consultation.
I didn’t take the time to read more of who this is but I question their understanding of how financials for life insurance work. “$6 billion increase in expenses is hard to weather.” Actually, no, it’s called reserves and you are statutorily required to hold them.
This seems like a puff piece of intellectual dishonesty to push an unsubstantiated claim that the covid vaccine is causing deaths, and there is some sort of conspiracy around it.
A few things: reporting lag for death claims are typically 3-18 months. Covid claims are obviously still occurring in 2021. It has been widely reported that non covid related deaths during the pandemic, specifically related to heart disease and diabetes, were much higher likely due to delayed medical consultation.
I didn’t take the time to read more of who this is but I question their understanding of how financials for life insurance work. “$6 billion increase in expenses is hard to weather.” Actually, no, it’s called reserves and you are statutorily required to hold them.
This seems like a puff piece of intellectual dishonesty to push an unsubstantiated claim that the covid vaccine is causing deaths, and there is some sort of conspiracy around it.
This is an interesting story, but I could sure do without the antivax conspiracy undertones.
Dr John Campbell recently covered something similar in the UK https://www.youtube.com/watch?v=7f45S6vmQgA
I didn't quite follow everything he said and I don't quite follow everything in this substack. Ever since that Financial Times excess death coronavirus stuff https://www.ft.com/content/6bd88b7d-3386-4543-b2e9-0d5c6fac8... that whole concept of excess deaths has been an idea kept around in my mind. It's an interesting concept, hard to make causal connections from it though and derive various conclusions other than a change in an average rate.
I didn't quite follow everything he said and I don't quite follow everything in this substack. Ever since that Financial Times excess death coronavirus stuff https://www.ft.com/content/6bd88b7d-3386-4543-b2e9-0d5c6fac8... that whole concept of excess deaths has been an idea kept around in my mind. It's an interesting concept, hard to make causal connections from it though and derive various conclusions other than a change in an average rate.
What absurd gibberish. The author has two data points.
1 - Vaccines for Covid-19 were available starting in 2021
2 - Life insurance payouts increased substantially in 2021
And the conclusion by the author is that 1 is the cause of 2. No evidence is provided, just casual begging the question.
1 - Vaccines for Covid-19 were available starting in 2021
2 - Life insurance payouts increased substantially in 2021
And the conclusion by the author is that 1 is the cause of 2. No evidence is provided, just casual begging the question.
The article seems to be implying vaccines are the cause...
A more rational alternative might be the entire medical system is under increased stress and people have been avoiding care/treatment.
A more rational alternative might be the entire medical system is under increased stress and people have been avoiding care/treatment.
Yeah, because there were far more Covid cases. <face palm/>
According to TFA these were non-covid related deaths.
I would expect pre-rapid-ubiquity covid tests had a lot to do with this. Speaking personally, the covid testing sites I went to all loved to charge tests as doctor's visits.
is there a simpler explanation than 'covid deaths are undercounted for political reasons? genuinely asking, since I can think of no other reason for such a huge expense to be incurred by this company.
Covid deaths are undercounted because not every death involves a covid test to verify cause?
And because a death of say a heart attack - after a bad case of Covid that weakens the heart - goes down as a "heart attack" instead of Covid. The issue that general deaths are up is genuinely something we should be very worried about. Attributing it to the vaccine because of the year in which it happened is just lazy ass cherry picking.
It seems especially egregious without data since you could claim covid fatigue or higher risk behavior after the introduction of vaccines also caused upticks.
I don't think that would explain the difference. Using a quick look at https://covid.cdc.gov/covid-data-tracker/#trends_totaldeaths I see covid deaths as:
Just getting sick doesn't trigger a life insurance payout, but a glance at cumulative cases vs deaths on the data tracker suggests that in 2021 covid is less deadly than in 2020 on a per-case basis. That matches what I see on the news and people around me pretty well.
I suspect that the life insurance vs covid risks skew differently with age. Life insurance policies tend to be high for working people and lower once retired. Since the purpose of life insurance is to replace lost income for the insured's dependents most people drop or reduce their policies when they retire. So that 2.64x factor on payouts should be under the factor for deaths unless the deaths are concentrated in younger, healthier people. I have no idea what that correction would look like so I ignored it.
* Assuming the second half of 2022 which hasn't happened yet looks like the first half. Reality won't be exactly 2x the total so far.
2019 : 0
2020 : 361,236
2021 : 461,460 ( 1.28x 2020 )
2022 : 191,352 ( 1.06x* 2020 )
2020 : 1.09x 2019
2021 : 2.86x 2019, 2.64x 2020
Just getting sick doesn't trigger a life insurance payout, but a glance at cumulative cases vs deaths on the data tracker suggests that in 2021 covid is less deadly than in 2020 on a per-case basis. That matches what I see on the news and people around me pretty well.
I suspect that the life insurance vs covid risks skew differently with age. Life insurance policies tend to be high for working people and lower once retired. Since the purpose of life insurance is to replace lost income for the insured's dependents most people drop or reduce their policies when they retire. So that 2.64x factor on payouts should be under the factor for deaths unless the deaths are concentrated in younger, healthier people. I have no idea what that correction would look like so I ignored it.
* Assuming the second half of 2022 which hasn't happened yet looks like the first half. Reality won't be exactly 2x the total so far.
And according to the scientists who actually study this stuff for a living, Covid side effects and long term damage are increasing the likelihood of all kinds of "non-covid related" deaths. that's what we should be scared about - not vaccines.
Long covid: Damage to multiple organs presents in young, low risk patients: https://www.bmj.com/content/371/bmj.m4470
More than 50 long-term effects of COVID-19: a systematic review and meta-analysis https://www.nature.com/articles/s41598-021-95565-8
Many Show Long-Term Organ Damage After COVID - WebMD https://www.webmd.com/lung/news/20210401/many-show-long-term...
... a review of COVID-19's extensive effects on virtually all the organs. It causes inflammation, endotheliitis, vasoconstriction, hypercoagulability, and edema. Lymphocytopenia, elevated D-dimer, elevated fibrin degradation products (FDPs), and disseminated intravascular coagulation (DIC) are observed. Deep vein thrombosis (DVT), venous thromboembolism, pulmonary embolism (PE), systemic and pulmonary arterial thrombosis and embolism, ischemic stroke, and myocardial infarction (MI) are reported. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7470660/
It's not the flu. At all.