Individuals insured by some large life insurance policies may face a surprisingly high risk of death due to non-medical causes such as accidents or suicides.
Milliman Inc., Seattle, has published that finding in a summary of results from the Milliman Industry Mortality Study and Analysis (MIMSA).
The study includes mortality and lapse information from 29 insurers, and it includes data on 1.6 million deaths and 8.1 million lapses that occurred from 2000 to 2009.
Overall mortality was only 87% of the expected rate, but there was a large range of results from company to company for both mortality and lapse, Milliman says.