“Ever so quietly,” writes Charles Passy, “insurance-industry number crunchers are tossing aside the old statistical models and life tables.” They’re recasting tired stereotypes about the “fatal” diseases of yesteryear. They’re rethinking that most ancient of questions: How long will we live? And they’re coming up with what many would say is a radical answer. Call it the new death calculus: the 21st-century equation for determining human longevity. Or call it misguided guesswork, as some critics have. Either way, it’s a $27 trillion question that has ramifications on both a large scale (as big governement and big business struggles to adjust their expectations of human longevity) and on a small scale (as individuals attempt to determine how much they’ll need saved for retirement).
The Illinois carrier recently raised $35 million through a stock offering.
Lack of corporate pensions may keep some workers in the workforce into their 70s. Or 80s.
Americans feel more financially secure but more risk averse today than 10 years ago, according to Northwestern Mutual.
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