From the article: “working-age people who are employees of businesses with group life insurance policies” - that’s a quite comparable effect although indeed not via the individual health screening thus less pronounced. Those not working are quite more likely to die.
What I don’t under from the article: they mention a $100 million loss on disability, but the effect of this size on mortality should be many billions.
Somewhat smaller denominator, sure, but changes in the numerator should also be smaller for similar reasons: healthier population, employed, therefore more shielded from socioeconomic stresses around the pandemic.
I sort of agree that the insurance financial risks associated with a low mortality population can be high in unusual situations, but it's not a blanket explanation for any particular situation.
What I don’t under from the article: they mention a $100 million loss on disability, but the effect of this size on mortality should be many billions.