A genome-wide association study (Paola Sebastiani et al) based upon 1055 centenarians, showed that Exceptional Longevity (EL) - living 90 years or more - can be predicted with 77% accuracy!
EL Genetic Passport
This research development will have major impact on 'life insurance' and pensions. With an EL Genetic Passport in your pocket, you'll have the power to conclude with 77% certainty whether it's profitable (or not) to buy life insurance or to invest more or less in your pension fund.
Genetic Loss by GAS
To prevent major losses caused by 'adverse selection', life insurance companies and pension funds have no other choice left, than to base life insurance premium prices and pension contributions on 'genetic passport information'.
Just like it's (from a company's perspective) devastating to sell mortgages to people who cannot afford it, it's also killing to sell life annuities to people who have knowledge of getting 90 years or older with 77% certainty.
As Genetic Adverse Selection (GAS) also negatively affects current provisions and value of an insurance company or pension fund, GAS development effects should be included and estimated in actual liability calculations.
Without doubt, GAS will generate large Genetic Losses in the next decades. Perhaps GAS can be qualified as a substantial new kind of risk in Pillar I calculations.
Related links - Sources:
- Science: Genetic Signatures of Exceptional Longevity in Humans
- PDF: Genetic Signatures of Exceptional Longevity in Humans
- BU: Signatures of Human Exceptional Longevity (video)
- Centenarians in some European countries, 2007
EL Genetic Passport
This research development will have major impact on 'life insurance' and pensions. With an EL Genetic Passport in your pocket, you'll have the power to conclude with 77% certainty whether it's profitable (or not) to buy life insurance or to invest more or less in your pension fund.
Genetic Loss by GAS
Just like it's (from a company's perspective) devastating to sell mortgages to people who cannot afford it, it's also killing to sell life annuities to people who have knowledge of getting 90 years or older with 77% certainty.
As Genetic Adverse Selection (GAS) also negatively affects current provisions and value of an insurance company or pension fund, GAS development effects should be included and estimated in actual liability calculations.
Without doubt, GAS will generate large Genetic Losses in the next decades. Perhaps GAS can be qualified as a substantial new kind of risk in Pillar I calculations.
Related links - Sources:
- Science: Genetic Signatures of Exceptional Longevity in Humans
- PDF: Genetic Signatures of Exceptional Longevity in Humans
- BU: Signatures of Human Exceptional Longevity (video)
- Centenarians in some European countries, 2007
Posts
LinkedIn Actuary-Info Group
No comments:
Post a Comment