The Future of Underwriting for a Pennsylvania Life Insurance Policy

The “forecasting” issue of Broker World wouldn’t be complete without a look into the future of medical underwriting. Will a person come to our house, swab the inside of our cheek, and be done with the medical end of things? Will we step into a machine that records height, weight, lean body mass and then proceed to CT scan our entire body? And even if they could, would we let them? The sky may be the limit, but we as a government and privacy protective population may not let it get that far. If you grew up watching “The Jetsons”, what really hasn’t come true in the years since the cartoon was on the airwaves? Maybe not flying transport saucers through space or vacations on Mars, but an awful lot.

You can step into one of those machines and have everything from coronary calcium to every body organ scanned and outlined. You can have blood analyzed for almost anything, and now genetic prediction of what will happen in the future. You can have doctors diagnose you by Smartphone and remote television from virtually anywhere. You can have physicians doing surgery not even standing in the same room as the patient. In the rather recent past, certainly in the 25+ years I have been writing this column for Broker World, requirements in underwriting have certainly changed. Chest X-rays, almost routine in large amount cases, are almost obsolete as a requirement for any applicant. Treadmill exams, done at specific age and amounts without cause, are not really done now except for cause, and the standard of medicine has changed so that if there is cause, the likelihood such testing (and more) will already be part of the APS is high. MD exams, an integral part of even applications of as low as half a million dollars previously, are now the exception rather than the rule. As Bob Dylan forecast, “The times, they are a-changin’...” Read More