Some life insurers hit pause on older Americans during coronavirus crisis

[Yo_Mama_Been_Loggin]

(Reuters) - Some U.S. life insurers are deciding not to gamble on older Americans during the coronavirus crisis by temporarily suspending applications from certain age groups or imposing tougher requirements.

Prudential Financial Inc , Lincoln National Corp and Protective Insurance Corp. are among the insurers that have made changes. Prudential and Protective are temporarily halting applications from individuals aged 80 or older, while Lincoln has postponed approving policies for that age group and others, the companies said.

Mutual of Omaha Insurance Co and Penn Mutual Life Insurance Company are temporarily suspending applications for individuals aged 70 or older. Securian Financial has stopped accepting new applications for those 71 and older until at least June 15, according to memos seen by Reuters.

Some insurers are also suspending applications for people in their 60s who previously may have been eligible for coverage despite common health problems such as diabetes or asthma.

https://www.msn.com/en-us/money/insurance/some-life-insurers-hit-pause-on-older-americans-during-coronavirus-crisis/ar-BB12MyCR?li=BBnb7Kz

[PoindexterOglethorpe]

1. Not surprising.

Also from the article

Policies for people in their 70s represent anywhere from 2% to 3.5% of sales, some of the insurers told Reuters.

and

A healthy 40-year-old woman pays about $180 annually for a $250,000 term life policy, while a healthy 70-year-old woman pays $2,244, or 1,146% more, according to online brokerage Policygenius.

I'm surprised that older woman doesn't pay somewhat more than that, but that tells you that a healthy 70-year-old woman doesn't have too high a chance of dying right away.