Hostname: page-component-78c5997874-j824f Total loading time: 0 Render date: 2024-11-15T23:21:54.122Z Has data issue: false hasContentIssue false
  • English
  • Français

Life insurance underwriting in the United States – yesterday, today and tomorrow

Published online by Cambridge University Press:  18 June 2013

Allen M. Klein
Allen M. Klein*
Affiliation:
Milliman Inc., Chicago/Lake Forest, Illinois, USA
*
*Correspondence to: Allen M. Klein, Milliman, Inc., Two Conway Park, 150 Field Drive – Suite 180, Lake Forest, IL 60045, USA; E-mail: [email protected]
Get access Rights & Permissions [Opens in a new window]

Abstract

Underwriting in the United States (US) life insurance marketplace has evolved tremendously over the last several decades. This paper will take a brief look at that history, from the older underwriting techniques still in use today to the introduction of smoker/nonsmoker distinctions in about 1980 to the evolution of preferred underwriting in the late 1980s, and finally to a movement toward simplified issue underwriting and a new approach to older age underwriting today.

Keywords

UnderwritingMedical UnderwritingFinancial UnderwritingPreferred UnderwritingSimplified IssueOlder Age UnderwritingTele-underwritingPredictive ModellingMortality
Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 18 , Issue 2 , July 2013 , pp. 486 - 502
Copyright
Copyright © Institute and Faculty of Actuaries 2013 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anstey, K.J., Cherbuin, N., Budge, M., Young, J. (2011). Body mass index in midlife and late-life as a risk factor for dementia: a meta-analysis of prospective studies. Obesity Reviews, 12(Issue 5), e426–e437.CrossRefGoogle ScholarPubMed
Clinical Reference Laboratory. (2012). New Development in Diabetic Testing: AGP (Advance Glycation Product). The Scoop, 2005. Accessed February 10, 2012, at http://www.crlcorp.com/insurance/NewsViews/NewDevelopmentinDiabeticTestingAGP.cfm.Google Scholar
Galea, S., Tracy, M., Hoggatt, K.J., DiMaggio, C., Karpati, A. (2011). Estimated Deaths Attributable to Social Factors in the United States. American Journal of Public Health, 101(8), pp. 1456–1465.Google Scholar
Gilsanz, J.M., Zemel, B.S., Kalkwarf, H.J., Lappe, V., Oberfield, S., Shepherd, J.A., Frederick, M.M., Huang, X., Lu, M., Mahboubi, S., Hangartner, T., Winer, K.K. (2011). Revised reference curves for bone mineral content and areal bone mineral density according to age and sex for black and non-black children: results of the bone mineral density in childhood study. The Journal of Clinical Endocrinology & Metabolism, 96(10), 3160–3169.Google Scholar
Kaczynski, J., Schult, A., Eriksson, H., Wallerstedt, S. (2011). Overweight and hypertriglyceridemia are risk factors for liver cirrhosis in middle-aged Swedish men. Scandinavian Journal of Gastroenterology, 46(6), 738–744.Google Scholar
Kell, D.B. (2010). Towards a unifying, systems biology understanding of large-scale cellular death and destruction caused by poorly liganded iron: Parkinson's, Huntington's, Alzheimer's, prions, bactericides, chemical toxicology and others as examples. Archives of Toxicology, 84(11), 825–889.CrossRefGoogle ScholarPubMed
Kulkarni, S.C., Levin-Rector, A., Ezzati, M., Murray, C.J.L. (2011). Falling behind: life expectancy in US counties from 2000 to 2007 in an international context. Population Health Metrics, 9, 16.Google Scholar
Lee, D.-H., Lind, P.M., Jacobs, D.R. Jr., Salihovic, S., van Bavel, B., Lind, L. (2011). Polychlorinated Biphenyls and Organochlorine Pesticides in Plasma Predict Development of Type 2 Diabetes in the Elderly: The Prospective Investigation of the Vasculature in Uppsala Seniors (PIVUS) Study. Diabetes Care, June 2011.Google Scholar
Logue, J., Murray, H.M., Welsh, P., Shepherd, J., Packard, C., Macfarlane, P., Cobbe, S., Ford, I., Sattar, N. (2011). Obesity is associated with fatal coronary heart disease independently of traditional risk factors and deprivation. Heart, February 2011.CrossRefGoogle ScholarPubMed
MEG Financial (2012). Life Insurance Medical Requirements: Lab Finding and Results Defined. Accessed February 6, 2012, at http://www.termland.com/life_insurance/lab_results_and_blood_tests.html.Google Scholar
MIB Group, Inc. (2012). website. Accessed February 6, 2012, at http://www.mib.com/html/mib_history.html.Google Scholar
Shahar, D.R., Feldblum, I., German, L., Castel, H., Harman-Boehm, I. (2011). Individualized Nutritional Intervention During and After Hospitalization: The Nutrition Intervention Study Clinical Trial. Journal of the American Geriatrics Society, 59(Issue 1), 10–17.Google Scholar