Technically speaking, a financial derivative, e.g. a contract-for-
difference, can be settled on any independently-determined numerical variable agreed upon by the parties. Usually something like the price of oil of course; but it could be the number of pages in Saturday's copy of the FT, or the number of burgers sold at a particular branch of Macdonalds in a given week. A swap, as they say, is an exchange of cashflow between consenting adults.
Here's a great new idea: death derivatives. Nope, not Warren Buffett's 'financial weapons of mass destruction', but contracts settled on actuarial data relating to life expectancy - have a read of this. There are loads of companies that have major financial exposure to that particular variable, so in principle this might work really well.
From the very first systematic record-keeping on mortality rates in England in the 1660's, actuarial data were meant to be useful. I can't imagine why anyone considers there would be some kind of moral scruple about this. It's just a cracking idea.
Might even be a better hedge for Bad News than gold ...