The death rate for those aged 18-64 has risen an astonishing 40% over pre-pandemic levels, according to the CEO of Indianapolis-based insurance company OneAmerica.
“We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica,” said Scott Davison, head of the $100 billion insurance company that’s been in operation since 1877 and has approximately 2,400 employees.
The increase represents “huge, huge numbers,” among “primarily working-age people” who have employer-sponsored group life plans through OneAmerica, according to The Center Square.
“And 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 during an online news conference last week. “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.”
“So 40% is just unheard of,” he added.
According to Davison, the majority of deaths being filed are not classified as due to Covid-19.
“What the data is showing to us is that the deaths that are being reported as COVID deaths greatly understate the actual death losses among working-age people from the pandemic. It may not all be COVID on their death certificate, but deaths are up just huge, huge numbers,” he said, adding that the company has seen an “uptick” in disability claims – at first short-term, and now long-term.