BREAKING: Fifth largest life insurance company in the US paid out 163% more for deaths of working people ages 18-64 in 2021 – Total claims/benefits up $6 BILLION
(Source: Crossroads Report)
Company cites “non-pandemic-related morbidity” and “unusual claims adjustments” in explanation of losses from group life insurance business: Stock falling, replaces CEO.
Five months after breaking the story of the CEO of One America insurance company saying deaths among working people ages 18-64 were up 40% in the third quarter of 2021, I can report that a much larger life insurance company, Lincoln National, reported a 163% increase in death benefits paid out under its group life insurance policies in 2021.
This is according to the annual statements filed with state insurance departments — statements that were provided exclusively to Crossroads Report in response to public records requests.