The Impact Of Mortality Risk to Life Insurance‘s Financial Performance in Indonesia During Covid-19 Vito Shadiq 1 , Dr. Dewi Hanggraeni 2 {vito_shadiq@yahoo.co.uk 1 , dewi.hanggraeni@ui.ac.id 2 } Faculty of Economics and Business, University of Indonesia 1 , Universitas Pertamina and Faculty of Economics and Business, University of Indonesia 2 Abstract. This paper aims to analyze the impact of mortality and morbidity risk on the Financial Performance of Life Insurance in Indonesia during the COVID-19 period. Data in the study were obtained from the Task Force (Government of Indonesia) for COVID- 19 infected cases and deaths from 2020 to 2021. The financial performance of the life insurance industry such as premium acquisition and insurance claims during the pandemic will be analyzed using statistical methods i.e regression and t-test. This paper will not focus on the activities of the Indonesian government and the policies of life insurance companies that may affect their business. Pandemic has had an impact on increasing the risk of mortality which has a negative impact on the financial performance of the Life Insurance industry in several countries, but Life Insurance in Indonesia, which has a small penetration ratio, is going through the pandemic in a different way. Keywords: Mortality risk, financial performance, life insurance, Covid-19, Indonesia 1 Introduction In 2020, the world was hit by a new pandemic, namely Coronavirus disease -19 (COVID-19), which resulted in all people being affected both from the economic sector, health, and social life. Based on data released by Worldometers on December 19, 2021, there are 273.4 million cases of Covid-19 worldwide, with a total of 13.7 million active cases. In Indonesia, there are 4.3 million cases of Covid-19, so the Indonesian government has implemented several policies that limit the mobility of all Indonesian people and minimize business activities, including life insurance. The number of Covid-19 cases continues to grow with no effective drug yet found, and also, due to the Covid-19 virus being able to mutate, the level of immunity produced by the vaccine needs to be increased. The death rate due to Covid-19 varies in each country, which can be influenced by the government's better data collection and the level of vaccination carried out. In Indonesia, excess mortality due to the Covid-19 pandemic is 2.1% or half of the world's excess mortality. World Health Organization (WHO) states that Covid-19 is pandemic since March 2020. ICONIC-RS 2022, March 31-April 01, DKI Jakarta, Indonesia Copyright © 2022 EAI DOI 10.4108/eai.31-3-2022.2321169