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Today's Key Question:
Have you ever wondered how life insurance companies adjust their mortality expectations when events like pandemics occur?
See the article below from Think Advisor for a behind-the-scenes look at how the industry operates.
"Don't Expand Coronavirus Unemployment Insurance: The negative impact of the program is well documented."
* What's more, even if one supports expanding UI during rough times, we must remember that whether the money is borrowed or taxed, this redistribution of income comes out of the real economy at the expense of other investments that are likely more valuable. This important reality looms especially large as the economy reopens, and businesses have a long road ahead just to survive.
The difficulties for oversight paired with the generosity of the benefits will continue to reduce both employment and economic output if legislators fail to reform the program. Now is not the time to add more bad policies to the damage already done by COVID-19.
"Reopening schools amid COVID-19: A mix of in-person attendance, remote learning and hybrid plans"
*Every state’s education department is releasing a roadmap to safely reopening schools. This roadmap is only a guidance and it is not mandated, or state required. Local school districts have the authority and flexibility to make decisions that best accommodate their communities.
"CDC Director Reveals 'Substantial' Cost of Closed Schools as Suicides Eclipse COVID Deaths"
* “But there has been another cost that we’ve seen, particularly in high schools. We’re seeing, sadly, far greater suicides now than we are deaths from COVID. We’re seeing far greater deaths from drug overdose that are above excess that we had as background than we are seeing the deaths from COVID.
“So this is why I keep coming back for the overall social being of individuals, is let’s all work together and find out how we can find common ground to get these schools open in a way that people are comfortable and they’re safe,” he continued.
"Life 'Mortality Improvement' Team Faces COVID-19"
* Actuaries are talking to state insurance regulators about a future in which death makes a comeback. The actuaries are part of the Mortality Improvement Subgroup, which, in turn, is an arm of one panel at the American Academy of Actuaries and a panel at the Society of Actuaries (SOA). The subgroup has been helping life insurers adjust their product reserves, and prices, to reflect the fact that Americans keep living longer.