Debate around differentiating life insurance premiums by COVID-19 vaccination status has intensified in South Africa and around the world; it's easy to understand why.
During the second and third waves in South Africa, for example, mortality rates for fully underwritten retail policies peaked at more than four times the expected level. However, using vaccination status is a complex challenge to solve and ultimately requires insurers to balance many different considerations. Neil Parkin, Head of Business development, RGA South Africa, explores the pros and cons of adding vaccination status as a rating factor.
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