Prior to COVID-19, 46% of American adults did not own life insurance and of those who did, many were underinsured, according to research by the Life Insurance and Marketing Research Association.
Less than a year ago it would have been excessive, if not redundant, to issue a 90-day impaired risk underwriting update. Not so in 2020.
Part III in a series of articles on developing underwriting thought processes, this third installment focuses on ways to develop critical thinking skills.
The practice of preventive medicine requires estimating the risks of developing chronic diseases so as to enable risk-mitigating measures such as diet, lifestyle and medical interventions to be implemented.
The industry has been talking about the “future of UW” for decades, but now COVID-19 has “accelerated the inevitable” and the future is now.
Dr. Achim Regenauer, Chief Medical Officer, discusses a newly published study that links air pollution to the occurrence of common neurodegenerative diseases, namely Alzheimer’s and Parkinson’s disease, the two fastest-growing neurological conditions in the world.
In my experience, two of the most challenging underwriting topics for advisors to understand are liver disease and kidney disease.
We’re used to seeing hypercholesterolemia as a known risk factor, but high triglycerides are also associated with an increased risk of cardiovascular disease.
Several underwriting tools have been adopted by carriers to issue coverage faster, in many cases without the need for insurance exams or requirements such as a traditional APS. Some of these tools are new, while others have been in use previously, but have recently been enhanced to streamline the underwriting process.
 |
 |
 |
 |
 |
 |