Life insurance premiums and Covid-19


Life insurance is based on very precise estimates of all elements that participate in the formation of the premium. The profitability of life insurers, among other factors, depends on a good assessment of the elements used to calculate the premium (mortality risk, probability of occurrence of a harmful event, expected returns, etc.). The risk of a Covid-19 pandemic affecting the entire world has caused numerous economic and social implications in modern society. He influenced the life of all people to become completely different. In addition to human casualties and catastrophic consequences for health systems around the world, it has left catastrophic consequences for the economies of countries – caused a reduction in consumption, investment, slowed economic growth, reduced employment. It also affected the insurance sector. In this paper, the author presents how Covid-19 influenced life insurance and life insurance premium.