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Group Life COVID-19 Mortality Survey

2/16/2021 Update:

Table 7.4 (found in subsection 7.3) has a column entitled “% Count” that had incorrect values in the original publication. The values in this column have now been corrected. In addition, a clarifying bullet has been added to the list at the beginning of Section 7 to explain what is represented by the “% COVID” columns in the ensuing tables.

Authors

Tom Britt, FSA, MAAA; Paul Correia, FSA, MAAA; Mike Krohn, FSA, CERA, MAAA; Rick Leavitt, ASA, MAAA; Cynthia S. MacDonald, FSA, MAAA, SOA; Patrick Nolan, FSA, MAAA, SOA; Stacy Paris, FSA, MAAA; Steve Rulis, FSA, MAAA

Description

The purpose of this survey is to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic, as compared to prior period baseline mortality results. The datasets for this report encompass all Group Term Life claims reported to participating carriers as of August 31, 2020. The Committee is grateful that 20 of the top 21 U.S. Group Term Life insurers are participating in this survey, with market share representing roughly 90% of the industry.

Report

Group Life COVID-19 Mortality Survey

Data for the above survey is collected monthly and an aggregated summary report of this monthly data is available upon request by contacting research@soa.org.

Acknowledgements

The Committee would like to extend its deep and sincere gratitude for the additional peer review provided by Susan R. Sames, FSA, MAAA and Amy Suzanne Whinnett, FSA.

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If you have comments or questions, please send an email to research@soa.org.