Which raises another key point: in an epidemic, it's the population at large which is affected and diseased. Individual assessments (or treatment) are often of limited use or applicability.
I have seen a few studies using this method to look at excess mortality during the great recession [1],[2], but there wasn't a pandemic at the same time.
https://www.thelancet.com/journals/lancet/article/PIIS0140-6...
Deaths directly from an infectious agent, or due to society-wide institutional impacts ... are still deaths, and would have, at least in a statistical sense, have been avoided without the epidemic. Specific mechanism differs, but the ultimate avoidance measure is the same: avoid pandemic situations, as a society.
Only the excess deaths will allow us to have a true comparison, but sadly we only get those long after.
This article says it's 7.8 years on average and up to 13.26 million QALYs are at stake in the US. So it's expected that life expectancy for the whole population will decline by at most 14 days due to Covid 19. https://www.nationalreview.com/corner/another-covid-cost-ben...
Where does that figure come from?
Edit: also, I think 1 in 200 is very, very roughly 5-10 times all other infectious diseases in a normal year. So maybe that would provide perspective.
This study expects 510,000 people to die in the UK (depending on the R0 value) and 2200000 in the US. That's 1 in 135. https://www.imperial.ac.uk/media/imperial-college/medicine/s...
It will be between 1 in 200 and 1 in 100.