Filed Under:Health Insurance, Ltci

The new LTCI underwriting standards

Selling smarter


Regardless of the type of insurance being discussed, insurance underwriting is essentially about assuming risk. 

For life insurance, the risk is death and there is a great deal of actuarial data to make accurate predictions.

The blood and urine testing requirement appears to be a direct result of the new shift to gender pricing, as it was released simultaneously.

Insurers instituted the new gender pricing strategy along with underwriting practice to help reduce risk and improve the sustainability of their LTCi products.

new ltci underwriting standardsInsurers are also being more strict about the family profile history (one insurer may include genetic testing of applicants with a family history of genetic disorders); medical records for applicants of all ages; and face-to-face interviews for younger clients.

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Nichole Morford

Nichole Morford
Managing Editor

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