Tahir Mahmood, PhD’s Post

Being diagnosed with diabetes doesn't mean you are uninsurable. Learn how to navigate the complexities and find the right coverage for your needs. Don't let a diagnosis define your future. Share this with someone who might need to hear it! #Diabetes #Insurance #Healthcare

We have a vested but distorted interest in our own health. You know who is clear-eyed and dispassionate on this front? Your life insurer. They only make money when you live longer than you're expected to. Just like your home insurer, who wants you to get a smoke detector so your house doesn't burn down. That's why it probably shouldn't be a surprise that the best report I read on #MetabolicHealth last year came from a life insurance company (a reinsurance company, technically, but I digress). This report from John Schoonbee and the Swiss Re team is a must-read if you're looking to promote long-term health. 👇 https://lnkd.in/egJVQNFG

💡 **Did You Know?** 💡 In 2023, Great Eastern Life paid out a staggering **RM2.58 billion** in claims to support the well-being and financial security of policyholders. This substantial amount underscores the importance of having adequate insurance coverage for unexpected life events. 🩺 **Breakdown of Claims:** - **Health/Medical**: RM1.55 billion (60.1%) - **Death**: RM586.6 million (22.7%) - **Living Assurance/Critical Illness**: RM413.4 million (16.0%) - **Total & Permanent Disability**: RM18.7 million (0.7%) - **Others (Rider)**: RM12.4 million (0.5%) Additionally, RM33.5 million was paid out as goodwill claims. 📊 **Critical Illness Claims (Oct-Dec 2023)**: - **Top Diagnoses**: - Cancer: 62.4% - Heart Attack: 8.8% - Other Serious Coronary Artery Disease: 7.8% - Stroke: 3.6% - Kidney Failure: 3.3% - Brain Surgery: 2.6% - Coronary Artery By-Pass Surgery: 2.0% - Others: 9.5% - **Age Groups Most Affected**: - 60 Years & Above: 23.7% - 50-59 Years: 35.8% - 40-49 Years: 27.8% - 30-39 Years: 8.3% - 21-29 Years: 3.6% - 20 Years & Below: 0.8% These figures highlight the critical role of insurance in safeguarding our lives and those of our loved ones. It's essential to be prepared for the unexpected. Ensure you and your family are adequately protected with the right insurance coverage. Let's prioritize our health and financial security! #InsuranceAwareness #FinancialSecurity #HealthInsurance #LifeInsurance #GreatEasternLife

Although the concept of preventive health comes to the fore frequently today, it is not easy to say that concrete steps have been taken in this field and rapid adaptations can be made. Insurance companies are one of the most impartial and important stakeholders in this field. Just like our home insurer wants us to buy a fire detector to prevent our house from burning down, living longer and healthier is one of the main goals of health and life insurance. Because getting sick less and living longer than expected is essential for insurance companies to make money, preventive health has become more important to them. Swiss reinsurance company Swissre stated in its study that protecting metabolic health is one of the areas that insurance companies should pay attention to. #obesity #insuretech #insurance #diabetes https://lnkd.in/dSDbF4Nc

And the Mortality Silver Medal Goes To…Body Mass Index!    While tobacco nondisclosure consistently takes the Gold in the Mortality Impact Olympics, it's important not to overlook the other top contenders. Body Mass Index (BMI) misrepresentation and alcohol nondisclosure are also significant factors in mortality risk, both comfortably standing on the podium. The article below focuses on the often-underestimated Silver medalist: BMI.   BMI is a critical factor in life insurance underwriting, second only to smoking in terms of the impact on risk classification. Misrepresentation of BMI—where applicants underreport their true BMI—can lead to applicants being placed in more favorable underwriting classes than they would qualify for if their actual BMI were known. Research indicates that BMI misrepresentation occurs in approximately 20% of fully underwritten cases, and this rate is likely to be higher in accelerated underwriting, given the lack of medical verification and self-selection. The resulting increase in mortality risk must be balanced against the benefits of higher placement rates and reduced costs. Read the full article and results from the Munich Re study here: https://lnkd.in/eCvfzURT #lifeinsurance #nondisclosure #bmi #bodymassindex #mortality #underwriting

This short piece has a good, quantitative overview of the current state of health plan coverage of the new weight loss drugs. A few facts: obesity is a predictor of other, costly medical conditions such as diabetes and heart disease, as this piece from the Mayo Clinic makes clear (https://lnkd.in/gdVMdqZx). For numerous reasons, including genetics and the body's adaptations to changes in caloric intake, non-medicinal weight loss efforts are notoriously unsuccessful, particularly over the longer-term. Therefore, the evidence is accumulating that treating obesity PREVENTS the occurrence of other diseases which both cost a lot of money to treat and substantially increase mortality risk while decreasing people's quality of life. Nonetheless, as these data make clear, although many health plans will cover weight-loss drugs once someone has diabetes or heart disease (although even here the coverage is much less than 100%), many fewer plans cover obesity treatment as a preventive measure. Once again, third party health plan administrators have signaled their complete disdain for people's welfare and lifespan. #healthbenefits #health #morbidity #weightloss #diabetes #healthinsurers

📢 Important Update for the Huntington’s Disease Community and Healthcare Professionals We’re excited to share that the latest legislative reform in Australia now makes it illegal for life insurers to discriminate based on genetic testing results. This critical change, alongside the MBS rebate scheme introduced in 2021 for prenatal genetic screening, empowers families affected by Huntington’s disease to have greater control over their future and make more informed decisions. Though there was a slight delay in sharing this update, our website has now been thoroughly updated by Shreesha Venkateshwaralu, providing a comprehensive guide on what these reforms mean for the Huntington's community. We encourage you to visit the latest news section on our website and explore how these legislative changes can help families plan with more certainty and support. Together, we’re building a more inclusive and brighter future. 🌟 🔗 https://lnkd.in/g_-apAgQ #HuntingtonsDisease #GeneticTesting #MBSRebate #HealthcareInnovation #LifeInsurance #FamilyPlanning #HuntingtonsCommunity #Genomics #HealthEquity

Long-term COVID effects may lead to elevated mortality in US & UK: Swiss Re By Kane Wells If the ongoing impact of COVID-19 is not curtailed, excess mortality rates in the general population may remain up to 3% higher than pre-pandemic levels in the US and 2.5% in the UK by 2033, as per a report from the Swiss Re Institute. According to the report, typically, all-cause excess mortality should be around zero, as the major causes of death remain relatively stable over the long-term baseline assumption. “Fluctuations in excess mortality tend to be short-term, reflecting developments such as a large-scale medical breakthrough or the negative impact of a large epidemic. However, as society absorbs these events, excess mortality should revert to the baseline,” Swiss Re’s report explained. With COVID-19 though, this has reportedly not been the case, with all-cause excess mortality still above the pre-pandemic baseline. “In 2021, excess mortality spiked to 23% above the 2019 baseline in the US, and 11% in the UK. In 2023, it remained significantly elevated in the range of 3–7% for the US, and 5–8% for the UK,” the report added. If the underlying drivers of current excess mortality continue, Swiss Re Institute’s analysis estimates that excess mortality may remain as high as 3% for the US and 2.5% for the UK by 2033. “The current levels of excess mortality are of concern. However, there are a range of tools available for insurers and reinsurers to manage this trend. Specific actions include adapting the underwriting philosophy, risk appetite, and mortality assumptions in pricing and reserving. Insurers can be proactive in targeting prevention programmes for policyholders, helping them in the joint effort to support longer, healthier lives,” Swiss Re Institute’s report read. Paul Murray, CEO L&H Reinsurance at Swiss Re, commented, “COVID-19 is far from over. The US reported an average of 1500 COVID-19 deaths a week for 2023 – comparable to fentanyl or firearm deaths. “If this continues, our analysis suggests a potential scenario of elevated excess mortality extending over the next decade. However, excess mortality can return to pre-pandemic levels much sooner. To finish this article please click on the image in the banner below. Posted by Larry Cole Executive Director of Covid Impact 360

Some critical illness statistics that shed light on the impact of these conditions: Cancer: Responsible for 30% of all deaths in Canada. Almost one in two Canadians can develop cancer during their lifetime. While more frequent in men (45%), one in four Canadians can die from cancer1. Cardiac Arrest: Approximately 35,000 cardiac arrests occur in Canada annually. Urgent care is crucial, as the survival rate is not very high1. Stroke: 62,000 stroke cases occur in Canada every year. High blood pressure is a significant risk factor for stroke, affecting almost 20% of Canadians1. Remember, critical illness insurance can provide financial security during challenging times. It offers a lump sum payment if you suffer from a critical illness covered in your policy. If you’re considering critical illness insurance, these statistics can help inform your decision. 🛡️ For more detailed information, consult with us.

Did you know? Every minute, somewhere in the world, a woman dies from breast cancer. That's more than 1,400 every day. 1 in 8 women are diagnosed with breast cancer, while 1 in 5 are under 50. A man's lifetime risk of breast cancer is about 1 in 1,000. Start being proactive today with these three tips: 1. Have monthly self-checks. This could save your life! Self-checks are the first line of defence against Breast Cancer; don’t wait for symptoms. If you notice any irregularities, lumps or bumps in your breasts, go to your doctor/healthcare provider immediately. Early detection is the best protection. 2. Prioritise breast health by visiting your Doctor or nearest healthcare provider for regular screenings and check-ups. It’s also imperative to stay informed on breast cancer research and updates and participate in awareness campaigns with your friends and family. 3.  Get life and critical illness coverage. Life is unpredictable; you and your family must be prepared. If you were diagnosed with a critical illness or disability, how would it impact your finances? Life and critical illness coverage are integral parts of financial planning. What’s the difference between life and critical illness insurance? 💡 Life insurance pays a lump sum to your beneficiaries upon death. 💡 Critical illness insurance pays you a lump sum if you are diagnosed with a critical illness, such as Breast Cancer (conditions apply). Critical illness insurance can help you cover hospital payments while continuing with your financial commitments (rent, mortgage, bills, school fees, etc). Being diagnosed with a critical illness is stressful enough, but you can prepare yourself to alleviate any potential financial strain with life and critical illness insurance. For breast cancer awareness month, I’m giving free consultations to any woman in UAE (and GCC) who wants to set up global life and critical illness insurance coverage. DM me OCTOBER to book your meeting. Your Wealth Partner, Lydia Elim #breastcancer #breastcancerawareness #financialplanning #lifeinsurance #criticalillnesscover #earlydetectionmatters #cancer #pinkOctober #KnowYourBodyKnowYourRisk #beproactivenotreactive #uae #gcc