What's Happening?
Swiss Re has issued updated guidance for underwriters on assessing life insurance applications from individuals using longevity drugs. Medications like Metformin and Rapamycin, traditionally used for diabetes and immunosuppression, are being explored for anti-aging purposes. Swiss Re's Life Guide, utilized by over 800 insurance companies, now includes advice on evaluating the risks associated with these drugs. The update aims to provide underwriters with practical decision-making support, especially when the use of such drugs is experimental or self-prescribed. The guidance reflects the evolving clinical picture of repurposed medications and their uncertain risks.
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Why It's Important?
The update from Swiss Re is crucial for the insurance industry as it navigates the implications of longevity drugs on life insurance policies. As these medications gain popularity for anti-aging purposes, insurers must assess their impact on mortality and policy pricing. The guidance helps underwriters make informed decisions, ensuring that insurance products remain viable and accurately priced. For consumers, the update may affect the availability and cost of life insurance, depending on their use of longevity drugs. This development highlights the intersection of healthcare advancements and insurance practices, prompting insurers to adapt to emerging trends.
