Stress is common in today’s high-pressure world, and it can have a big impact on our well-being. Personal situations can cause anyone anxiety and depression, but a lot of people also have significant psychiatric impairments that are related to their psychological make-up.
Compared to the attention that the life insurance industry gives to medical underwriting, financial underwriting may seem less important, something like ‘the little finger on the left hand’. But what happens on the medical side goes a long way in determining whether a client’s application is accepted, rejected, or rated.
This article will attempt to address such questions as: Who are homicide’s victims and offenders? Why is the U.S. murder rate several times higher than that of other wealthy countries? Why are fewer homicide cases being solved? What significant factors correlate closely with murder rates? And what impact does homicide have on life insurance claims?
During a recent flight home from an industry event, I sat in my seat re-reading my previous “State of the Industry” blogs. A common theme resonated throughout each of them – Simplified Process. I am passionate about a simplified process because it is what our applicants tell us they want.
In recent years, life insurance companies have started offering acceleration of a portion of the face amount of the life insurance policy to those who are chronically or critically ill. This article discusses the more common form of the chronic illness riders found in the U.S. marketplace today, as well as considerations to control the risks under that rider.
1. Simplification in product design and processes
2. Increased prevalence of combination products with accelerated benefit riders
3. Underwriting advancements and streamlining
4. Changes to the advice model
5. Internet distribution
This article includes a general overview of hereditary hemochromatosis along with an easy-to-understand approach to underwriting this disorder. It also includes an overview of the genetic testing interpretation involved with this disorder.