Interesting Life Underwriting news
Little did I realize when I recently posted about a client that I was on the bleeding edge of a potential revolution in life insurance underwriting. But that seems to be the case, as "new research by Timetric [shows that] three key technological developments have had a substantial impact on life insurance underwriting: automation, social media and big data."[ed: gotta love "Big Data." Brent Spiner must be jealous]Two items caught my eye:First, that social media seems to be playing a larger role in detecting insurance fraud (we tend to see this more in the disability and workers comp fields, of course). But it strikes me as...
Source: InsureBlog - September 2, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
Underwriting Cancer
Recently, I had an interesting experience with a client which I'd like to share as an example of how important agent communication can be.A gentleman called up inquiring about some additional life insurance. I did my usual pre-screen process, and he was in decent health, no tobacco use, "normal" height and weight. Got the quote, agreed on a plan design, and sent in the application.As with most policies nowadays, this one required a routine "paramed" exam (blood, urine, physical measurements, nothing major). The exam was scheduled for this coming Friday.Today he called with some discouraging news: as part of a routine test ...
Source: InsureBlog - August 27, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
The Long Con - "Charitable" Hospitals Make Multimillionaires out of Their CEOs
The CEOs of ostensibly charitable hospitals founded to serve the poor continue to become rich. The latest reminders are in two articles from Maryland, from DelMarVaNow, and from the Baltimore Sun,.and one from the Boston Globe.All this diligent reporting showed multimillion dollar executive compensation, as usual not justified by evidence or logic, but also how executive compensation is becoming divorced from the ostensible charitable mission of non-profit hospitals. Most Hospital CEOs are Paid a LotSo jin Maryland, we found via DelMarVaNow,Peninsula Regional Medical Center paid its top executive and he...
Source: Health Care Renewal - August 23, 2013 Category: Health Medicine and Bioethics Commentators Tags: hospitals executive compensation deception perverse incentives mission-hostile management non-profit organizations hospital systems Source Type: blogs
He's only MOSTLY dead.... [UPDATED]
Here's something you don't see every day:"After showing no signs of life for 45 minutes and being declared dead, a 37-year-old Ohio man suddenly came back to life ... doctors treated Yahle with every medicine they could for 45 minutes, but he didn’t respond and was officially declared dead."Mr Yahle had had some breathing problems earlier in the day, which had prompted a 911 call and ambulance ride. After hearing that his father had been pronounced dead, his 17-year-old son rushed to his side, yelling “Dad, you’re not going to die today."Turned out he was right.Which by the way brings up an interesting (well, to me, ...
Source: InsureBlog - August 22, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
If PSA Tests Don't Impact Survival, Why Do Insurance Companies Do The Test Without Your Knowledge?
A discussion on Twitter caught the eyes of my colleagues yesterday, and raised a very interesting question: should insurance companies be allowed to do PSA testing to detect prostate cancer on men as a condition of getting insurance?
What started the discussion was a blog post by a well-known and respected medical blogger who goes by the name "Skeptical Scalpel." In his blog he detailed the saga of a 56 year old man who had a pre-employment physical in order to be covered by his new company's health insurance plan. He was not informed that he was going to have a PSA test. It was just done as part of the process. No informe...
Source: Dr. Len's Cancer Blog - August 21, 2013 Category: Cancer Authors: Dr. Len Tags: Cancer Care Early detection Prostate Cancer Screening Survivors Treatment Source Type: blogs
More Americans Going Galt
Daniel J. Mitchell
President Obama promised he would unite the world…and he’s right.
Representatives from all parts of the globe have bitterly complained about an awful piece of legislation, called the Foreign Account Tax Compliance Act (FATCA), that was enacted back in 2010.
(Michael Ramirez/Investors Business Daily)
They despise this unjust law because it extends the power of the IRS into the domestic affairs of other nations. That’s an understandable source of conflict, which should be easy to understand. Wouldn’t all of us get upset, after all, if the French government or Russian governm...
Source: Cato-at-liberty - August 12, 2013 Category: Health Medicine and Bioethics Commentators Authors: Daniel J. Mitchell Source Type: blogs
Lucy (Peanuts fame) found working in Maryland
Lucy would be called an inflation-denier for her never-ending demand that it cost $0.05. Even today hocking life insurance she is set on five cents being the price. I have to wonder if officials in Maryland aren't giving their price setting just as little thought:
"The Maryland Insurance Administration is telling some carriers that want to sell coverage through its individual exchange program to make deep cuts in their premiums. "
"In the bare-bones, “bronze level” of coverage, for example, the
monthly premium rates originally requested for a 25-year-old nonsmoker
living in Baltimore ranged from $136 to $350.
The ...
Source: InsureBlog - July 30, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
Wednesday WroundUp
■ The future is a lot closer than you might think. We know that Star Trek presaged cell phones, tablets and holograms; now we may actually get tricorders, too:■ If you're not regularly reading Avik Roy's Apothecary, you're missing a lot. Here's a sample:- The NY Times Tries — And Fails — To Protect Obamacare From Health Insurance ‘Rate Shock’- The Devastating Obamacare Tax On Low Income Workers At Large Firms- Labor Unions: Obamacare Will ‘Shatter’ Our Health Benefits, Cause ‘Nightmare Scenarios’Lots more at Avik's place.■ FoIB Holly R sends us this interesting item on life insurance and single folks:...
Source: InsureBlog - July 24, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
Allstate Life Insurance Chicago 13.1 Half Marathon and 5k Marathon
Allstate Life Insurance Chicago 13.1 Half Marathon took place on June 8, 2013, at Jackson Park, in Chicago.Contributor: Irene Lankin-DuffyPublished: Jul 07, 2013 (Source: Most Recent Health Wellness - Associated Content)
Source: Most Recent Health Wellness - Associated Content - July 7, 2013 Category: Other Conditions Source Type: blogs
Burial Insurance
Life insurance, burial insurance, final expense policy. All terms for the same thing.
We come into this world with nothing and leave the same way. But most of us do leave behind unpaid bills.
Credit cards, mortgage loans, car loans, bequests . . . the list goes on.
But what happens if there is not enough money to take care of your funeral, much less outstanding debts?
Apparently some folks go to great lengths to solve this problem.
A 59-year-old Apple Valley woman apparently buried her husband in her backyard because she was too poor to "give him a proper burial," authorities said Wednesday.
LA Times
But wait. The...
Source: InsureBlog - June 20, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
Life Insurance, Long Term Care, Medicaid and You
Not so sure that this is such a great idea:"State lawmakers are encouraging elderly residents to use life insurance as a way to pay for long-term care—and lower the Medicaid tab in the process."The concept seems pretty straightforward: you take an older life insurance policy and sell it ("viaticate" is the technical term), and then use the proceeds to pay for long term care. When the policy's value is used up, one turns to Medicaid for continued long term care funding.This is not a new idea, but the fact that states are now touting it as a viable LTC funding vehicle is telling: they're running out of money and are desper...
Source: InsureBlog - June 18, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
Warning - I have been thinking!
I'm sorry I don't mean to do that, think that is, very often. It often gets me into trouble in one way or another.I wrote a post the other day about how time flies and how I am coping better these days - or so it seems. Being sensitive and thoughtful (hah!) I decided it was time for some inner-contemplation on my developing coping skills.First, am I any healthier than I was six years ago? Absolutely not. I have so many new ailments that are the chronic kind that follow me around wherever I go, I think I have lost count. I definitely have many more doctors and doctor appointments (these seem to go hand in hand) than six yea...
Source: Caroline's Breast Cancer Blog - June 13, 2013 Category: Cancer Tags: coping healthiness humor stress Source Type: blogs
Preventing Alzheimer's Patients from Canceling Insurance Policies
Does you loved one living with dementia have outstanding insurance policies, annuities, or long term care policies? Is it possible that without your knowledge they might cancel the policies, allow them to default, or sell to someone that is taking advantage of them?
By Bob DeMarco
+Alzheimer's Reading Room
Does your spouse or parent have outstanding insurance policies, annuities, pension plans, or long term care insurance policies?
Have you ever given thought to what might happen if they pick up the phone and cancel something like a long term care insurance policy? Or worse, what if they have a life ins...
Source: Alzheimer's Reading Room, The - June 13, 2013 Category: Dementia Authors: Bob DeMarco Source Type: blogs
Warming Up to Cryonics
Cryonics is the industry and technologies that can provide long-term low-temperature storage of your body and mind following death. The balance of evidence presently favors the supposition that vitrification of cryoprotectant-infused tissue, avoiding ice-crystal formation, preserves the fine structure of neural cells in which the data of the mind is stored. That is the core of the matter: whether cryonics preserves the mind well enough to allow future technologies to repair and revive suspended people. If you are going to die prior to the advent of rejuvenation biotechnology, and this is a significant risk for most of us, ...
Source: Fight Aging! - June 12, 2013 Category: Health Medicine and Bioethics Commentators Authors: Reason Tags: Of Interest Source Type: blogs
Bait and Switch
Why do presumably otherwise intelligent people cry foul when getting an online health insurance quote and then discover the quoted rate is not the final rate once an application is submitted?
Do they claim bait and switch when they get a solicitation from a credit card company advertising 2.9% rates? Or mortgage loans at 2.9%? Or car loans?
How about those nothing down, no payment until 2015 on cheap furniture?
People like Rick Unger must either be ignorant or the have an agenda.
As the premium prices published by any Internet health insurance exchange cannot possibly deliver the entire pricing picture, due t...
Source: InsureBlog - June 8, 2013 Category: Medical Lawyers and Insurers Source Type: blogs
