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Too many Americans have taken themselves out of the market for life insurance as a result of outdated assumptions about pre-existing conditions and insurability.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 Advertisements

The Black Box Changing Life Underwriting

ANAHEIM, Calif. – “Predictive modeling” is coming to life underwriting, and while it may help reduce underwriting costs, the approach may be confusing to clients or even a touch scary, says a long time underwriter. Advisors will therefore need to be ready to educate on this. Predictive modeling refers to systematic analysis of data, including … Continue reading

The Underwriting Corner: What You Should Know About Prescription Checks

Prescription checks are one of the best underwriting tools developed in many years. Knowledge of a person’s prescription history may enable an underwriter to forgo the need to order an APS in some cases. When an underwriter makes a prescription-check inquiry, an order is placed electronically and a report is returned almost immediately with a … Continue reading

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