Impaired Risk Review: Insurance for an Organ Donor
The miracles of transplant surgery have given so many whose body organs have failed a new lease on life. Heart, liver and kidney transplants are no longer experimental procedures done with fingers crossed and only temporary results expected. Receiving these organs is a lifesaver for those recipients involved. But what is the insurance fate of organ donors?
Impaired Risk Review: Carotid Stenosis
The carotid arteries are the two large blood vessels you can feel the pulse of in your neck that bring oxygenated blood to the brain. Narrowing or blocking of these arteries can cause life threatening consequences, including a major stroke.
Impaired Risk Review: Cancer of the Bladder
Bladder cancer is now one of the 10 most common cancers in the United States and the second most common urological cancer. Men are four times as likely as women to develop it, but women more frequently have advanced disease at the time of diagnosis. The mean age of development is about age 65 and can range from benign easily treated lesions to invasive cancer.
Impaired Risk Review: Bradycardia-Tachycardia Syndrome (Sick Sinus)
Bradycardia-tachycardia syndrome, or sick sinus syndrome (SSS), is actually a collection of diseases where the heart is no longer able to effectively perform its regular pacemaking duties.
Impaired Risk Review: Hypothyroidism
An underactivity of the thyroid gland, hypothyroidism, is quite common—affecting probably one percent of the population and rising to five percent over the age of 60. The thyroid gland is responsible for controlling the metabolic rate of most of the body. When the rate slows, both mental and physical systems are involved. In its severest form, called myxedema, it is capable of causing permanent dementia and even death. Thankfully, however, it is generally an easily treatable disorder.
Impaired Risk Review: Build
The first set of insurance tables on ideal height and weight were published by Metropolitan Life, first in 1942 and then revised in 1959 to a “desirable weight table.” Eventually the tables evolved by the 1980s to height and weight measurements stratified to small, medium and large build.
Impaired Risk Review: Huntington’s Disease
Genetics are obviously one of the important factors in assessing longevity and in performing life underwriting. Family history is asked about on virtually every application for life insurance. Longevity helps in looking for preferred issues, and hurts when the pervasive pattern is an increased risk of early disease.
Impaired Risk Review: When You Can Not Get the Information
The last touches on wrapping up a case can be some of the most difficult ones. Most everything is in, the case is ready to be paid for, but there is underwriting information that is outstanding: a test result unaccounted for; an APS that hasn’t come in; a doctor’s office that is taking its time in getting out information that is critical. There’s got to be an easier way.
Underwriting younger ages can be one of the most difficult tasks of an underwriter. Besides the obvious task of determining insurable interest on individuals with no employment, no immediate financial need, little track record on health and few clues on the medical end, most underwriters have the least experience working on this age group.
Impaired Risk Underwriting and the Immediate Annuity Market
Ten years ago, seven carriers were active in the SPIA impaired risk market. Now, only one major participant remains. What happened?