Delaware Business Insurance Update from CNC Insurance Assoc. " Actuaries Have Some Bad News Regarding Life Expectancy". 10-30-16

In a recent report from the National Society of Actuaries, the life expectancy for Baby Boomers, GenX and Millenials has dropped 6 months. Now I know what you're thinking, "who are these actuaries and what do they know?"  Actuaries are those people that take all of the big data that is out there and figure out insurance rates as well as life expectancies for the insurance industry. Currently a 65-year-old man can be expected to live to his 86th birthday. A woman at the same age gets a few more years, to 88. For Millennials, a 25-year-old man has a 50/50 chance of seeing age 86 and 11 months and a Millennial women has a 50/50 chance to see age 90.
Here is the bad news. These projections are 6 months less than the same projections from last year. The actuaries have seen the numbers decline because the health of people overall has deteriorated. Obesity, liver disease, stressful living, are all factors that are reducing life expectancy. It remains to be seen if this is a trend that will continue each year.  Even with advancements in modern medicine, the data clearly shows that life style may be the biggest determinant factor for life expectancy. So when your doctor tells you to eat well, exercise,  and get plenty of sleep, it would be wise to listen because you may be getting back those 6 months that the actuaries took away. Until next time be careful out there and know your risks.

G. Kevin Nemith , President of CNC Insurance Assoc. and the Small Business Insurance Center
Serving DE, MD, NJ, PA, and VA
www.cncinsurance.com
www.bizinsurancetv.org

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