MTHEL131 Lecture Notes - Lecture 8: Underwriting, Stroke 9, Electrocardiography
27 Mar 2016
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Document Summary
3 things that affect cost of premium: mortality, expenses, assessment of risk is important, process: underwriting. Underwriting: process/department that evaluates the risk of each applicant. Makes sure that a bad risk is not included in the pool of applicants. When we understand the most common types of death, we can have a good underwriting process: natural disasters, accidents. Workplace: cancer , suicide , aids , diabetes , heart attack , stroke , war, murder. Underwriting process: asks health questions to cover main causes of death. Ex: have you ever had a heart attack? : blood/urine sample. Blood: cholesterol level, toxins in blood, presence of hiv/aids, long story short: blood is a big deal: check blood pressure. Higher blood pressure = higher risk of stroke: questionnaire for extreme sports: To what extent: based on age of applicant & amount of policy, underwriter has the right to ask for tests.
