Abstract
This chapter analyzes the underwriting procedures for many of the major medical impairments. Because it was not feasible to include every impairment, a list was created by selecting factors from each of the following groups:
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1.
Controversial items specifically included in the list of impairments solicited by the Society of Actuaries for its newest medical impairment study, such as multiple sclerosis, hemophilia, and epilepsy;1
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2.
Impairments for which statutory restrictions have been developed, such as blindness, deafness, and mental retardation;
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3.
The leading causes of death among individual life insurance policyholders, such as high blood pressure, diabetes, and cancer.2
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Notes
American Council of Life Insurance, 1980 Life Insurance Fact Book ( Washington, D.C.: 1980 ), pp. 95–96.
Richard Singer, “Hypertension Revisited,” Best’s Review, Life/Health Edition 74 (December 1973): 64–68.
H. Woodman (panelist), “Individual Life and Health Underwriting,” Transactions of the Society of Actuaries 25, part 2 (1973): D229–56.
The Stanford-Binet test is one of those most widely used in testing for intelligence in preschool and school-age children. At every age the distribution of test scores is assumed to be normally distributed with a mean of 100 and a standard deviation of 16. The classifications listed in table 9–8 were found in many of the underwriting manuals. To put these scores into perspective, with a mean of 100 and a standard deviation of 16, only 15.87 percent of the population are expected to score 84 or below, only 2.27 percent to score below 68, and only 0.1 percent to score below 51. See David Monroe Miller, Interpreting Test Scores (New York: John Wiley, 1972), for a thorough discussion of this test.
For a highly technical treatment of this subject, see G.H. Bourne and N. Golarz, Muscular Dystrophy in Man and Animals ( New York: Hafner Publishing, 1963 ).
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Cummins, J.D., Smith, B.D., Vance, R.N., VanDerhei, J.L. (1983). Underwriting Medical Impairments. In: Risk Classification in Life Insurance. Huebner International Series on Risk, Insurance, and Economic Security, vol 1. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2911-6_9
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DOI: https://doi.org/10.1007/978-94-017-2911-6_9
Publisher Name: Springer, Dordrecht
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