Health - Health Insurance Underwriting, Issuance & Delivery (1.2)

Front 1

1. physical condition
2. moral hazard
3. occupation
4. sex
5. age
6. family history
7. hobbies/interest
8. insurable interest

Back 1

Risk Factors used by ER's in evaluating health insurance:

Front 2

Application Procedures

Back 2

The application is the applicant's written request to the insurance company to issue a policy or contract based upone th info contained in the application

Front 3

a new policy will not provide benefits for pre-existing conditions for a period of two years

Back 3

pre-existing conditions

Front 4

Application

Back 4

the primary source of underwriting info

Front 5

Required Signatures

Back 5

application must be signed by the applicant and the producer beofer being submitted to the ER for underwriting

Front 6

the producer answers questions about the applicant based on the producers observations

Back 6

producer report

Front 7

1. name and address of the person to whom the info must be disclosed
2. specific purpose for which disclosure is to be made
3. time period during which the written release is to be effective but in no case must the time period exceed 180 days form the date the release is signed by the applicant
4. signature of the applicant or of the person authorized by law to consent to the release

Back 7

written release form must contain the following info:

Front 8

standard risk

Back 8

normal rate and terms that the ER uses

Front 9

preferred risk

Back 9

the Ed has excellent health and habits and is given a better than average risk rating

Front 10

uninsurable risk

Back 10

applicant has a health risk that makes him/her uninsurable

Front 11

substandard risk

Back 11

one or more of the risk factors are out of proportion with the general or standard risk factors

Front 12

1. Exclusion or impairment
2. increase the premium
3. limit the type of policy

Back 12

insurance company has 3 options to insure a substandard risk:

Front 13

1. Morbidity
2. Interest
3. Expenses

Back 13

Primary premium factors:

Front 14

1. benefits
2. claims experience
3. age and sex
4. occupation and hobbies

Back 14

Secondary Premium Factors: