Two trends are increasing the average age of the American worker:
- Baby Boomers are working longer before retiring
- Younger generations are entering the workforce later, after they go to college
The older employees get, the more susceptible they are to illnesses such as heart disease, diabetes and cancer. As a result, they are more likely to file Life and Disability insurance claims.
Average age affects insurance prices across businesses of similar size, regardless of the actual range of a company's employees.