Life Underwriting Jack of All Trades, Master of Hats

1
Life Underwriting Jack of All Trades, Master of
Hats

• Allen D.Hixon, CLU,ChFC,FLMI,AALU
• Underwriting Managing Consultant
• State Farm Life Ins. Co.

2
Individual Life Underwriting

• Medical Issues
• The Financial Risk
• The Motor Vehicle Risk
• The Travel Risk
• The Occupational Exposure
• Avocation
• Personal Risk Factors

3
Underwriting cont

• Criminal Risk
• Aviation
• Military Risk
• International Applicants
• Business Relationships
• Beneficiaries
• Insurable Interest and Ownership

4
Medical Risks

• Old Health
• New Health
• The insurance exam
• Bodily Fluids
• Attending Physician Information
• MIB
• Special Tests

5
Financial Factors

• The Basics
• The Inspection
• Teleunderwriting
• Tax Forms
• Financial Questionnaires
• The Phone Call

6
The Driving Risk

• Motor Vehicle Record
• Boating
• Alcohol-DWI
• Motorcycle Risk

7
The Travel Risk

• Prior to September 11
• Post September 11
• International Travel
• US State Dept Travel Warnings
• Risk Assessment
• Ratings and Declines

8
Occupation, Avocation, Aviation

• Occupation
• Avocation-Hobbies-Sports
• Aviation, Private, Commercial, Military

9
Personal Risk

• Age
• Gender
• Martial Status
• Sexual Orientation
• Transsexuals

10
Misc. Risk Factors

• Military Risk
• Criminal Risk
• Foreign Nationals
• Beneficiaries and
• Insurable Interest and Ownership Issues

11
In the News

• Genetics and Underwriting
• Research and Initiatives
• Epidemics
• Reinsurance
• Privacy
• Underwriting Manuals
• Skin Sterol testing

12
First Year Death Claims

• Natural Causes 62
• Accidental Death 38
• Average age of death, 41 years of age
• Motor Vehicle Deaths
• Heart Disease
• Cancer
• Homicide

13
Web Links

• Swiss RE. http//www.swissre.com/
• US State Dept. http//www.state.gov/
• US Dept of Treasury. http//www.treas.gov/offices/
  enforcement/ofac/
• Medicine/Merck. http//www.merck.com/mmhe/index.ht
  ml
• Yogi Berra. http//www.rinkworks.com/said/yogiberr
  a.shtml

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Q and A