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Clients 70 and older have a 65% probability of having significant medical impairments that affect the pricing of their life insurance. Use this questionnaire to “double check” the health history of your older client instead of assuming they are a standard or preferred risk. If you “discover” a medical problem, simply select the appropriate medical questionnaire to gather additional information. |
1) What medications is the client currently taking?
Underwriting Comment: Knowing a client’s medications is the “fast track” to the underwriting assessment. Once you know the client’s medications you can research the underwriting significance in Pharmacy Tutor.
2) Does the client drive a car and manage their finances?
Underwriting Comment: There are three (3) levels of ADLs (activities of daily living). ADLs define a client’s functional ability. Functional ability, how self-sufficient a person is in their environment, has major significance on mortality for clients 70 and older. The highest level of ADLs is level three, which includes the ability to drive a car and manage ones own finances. You want to verify that your client has level three ADLs in tact.
3) Does the client have any history of high blood pressure, chest pain, angioplasty, heart attack, bypass surgery or irregular heart rhythm?
Underwriting Comment: HEART DISEASE IS THE NUMBER ON CAUSE OF DEATH FOR MEN AND WOMEN. This is a question you need to ask every applicant more than once. A medical history that is free of heart disease is good news for the client and the underwriting outcome.
4) Does the client have a history of cancer of any organ including the skin?
Underwriting Comment: CANCER IS THE NUMBER TWO CAUSE OF DEATH FOR MEN AND WOMEN. This is a question you need to ask every applicant more than once. A medical history that is free of cancer is good news for the client and the underwriting outcome.
5) Does the client have any history of diabetes?
Underwriting Comment: DIABETES HAS REACHED EPIDEMIC PROPORTIONS IN THE US WITH NO END IN SITE! A diagnosis of insulin dependent or non-insulin dependent diabetes creates underwriting problems. Older clients are at a higher risk for either having or developing diabetes.
A medical history that is free of diabetes is good news for the client and the underwriting outcome.
6) Does the client receive regular health care aside from that for acute medical problems?
Underwriting Comment: Clients who undergo routine health screening have better medical and underwriting outcomes. They receive the “medical gift” of early intervention to the possibility of changing the degree and course of a disease process.
