“100-year lives – how age impacts the insurance industry,” by Josh Recamara, InsuranceBusiness
“We all want to live longer lives – but there’s no doubt there can be an economic hit in doing so. While difficult to quantify, an ageing population can impact health and social care, as well as expenditure on pensions. However, what is the impact on the insurance industry? A new report by the Geneva Association, which included insights from a survey of about 15,000 individuals across 12 countries worldwide, has highlighted how insurers are adapting to the challenges and opportunities of an ageing global population. The association’s Insurance and the Longevity Economy: Navigating Protection in the Era of 100-Year Lives found that longer life expectancy and declining fertility rates resulted in fewer working-age individuals being available to support retirees, creating financial and healthcare pressures that insurers are increasingly expected to address.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Read the full “Longevity Economy: Navigating Protection in the Era of 100-Year Lives” report here.