COVID-19 reinforces the value of insurance to cover mortality risk
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The crisis is exposing households' lack of adequate financial protection against the premature death of a breadwinner.
Key takeaways
- Global mortality resilience will likely weaken in 2020, as excess deaths rise while household assets suffer in the deepest recession of modern times.
- The global mortality protection gap is expected to widen above its high of USD 427 billion in 2019.
- Mortality resilience has declined globally since 2001, though Latin America and Asia now have greater life insurance coverage.
- Swiss Re Institute's latest Asia consumer surveys show that premium level and add-on features are among key decision factors for mortality insurance purchases.
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