“Preferred” Prognostications

We operate two life underwriting study groups for the benefit of the industry. Taken together, they include over 40 chief underwriters plus nearly all reinsurers and major service firms. Based on what was discussed at these open forums, its time to go out on the proverbial limb with some predictions and opinions about preferred underwriting … Continue reading

Genworth redefines healthy: pre-existing conditions not always barrier to life insurance

Too many Americans have taken themselves out of the market for life insurance as a result of outdated assumptions about pre-existing conditions and insurability. That is one of the conclusions drawn by Genworth life insurance experts from a review of the 2012 Genworth LifeJacketSM Study data. http://www.multivu.com/mnr/54345-genworth-financial-lifejacket-study-life-insurance-health-conditions?elq=9ab8d85b852748faa7cc786e63d4fcf3&elqCampaignId=234

Insuring the Parents of Children with Special Needs

According to the most recent survey conducted by the U.S. Department of Health and Human Services, 13.9 % of children in the U.S have special health care needs. These needs vary and can include a range of conditions including chronic physical, developmental, behavioral, or emotional challenges.  The special needs of these children typically require health … Continue reading

Creative Underwriting Solutions

How do underwriters evaluate risk? They assess mortality risk by utilizing several sources: life insurance exam requirements, attending physician statements, Medical Information Bureau reports, pharmacological records, Department of Motor Vehicle reports, personal history interviews, and face-to-face inspections (for jumbo cases). I like to compare underwriting life insurance risks to evaluating an applicant as a credit … Continue reading

Six Myths of Impaired Risk Underwriting

… and how to dispel them The impaired risk segment of the life insurance business is approaching 20% of the total cases written. While this a significant figure in itself, it’s even more compelling when taking into account the premium and commission dollars it represents for insurance companies and brokers. From this perspective, impaired risk … Continue reading