medical underwriting


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medical underwriting

The process that an insurance company uses to decide, based on known or anticipated medical needs, whether or not to insure an individual or group, or to add a waiting period for pre-existing conditions, and to determine the cost of the premium (policy).

Medical underwriting may have a negative overtone, as it is a process undertaken by the insurer seen to be intended to penalise—if only financially—those who are at high risk for or already have certain diseases, by charging them higher premiums or by completely denying them coverage.

medical underwriting

Managed care The process of determining the medical needs of an individual or group before providing coverage. See Health insurance.
References in periodicals archive ?
Unlike many other types of insurance, premiums do not increase with age and no medical underwriting is required before joining.
In new position, Gregory would be having the duties to plan as well as implement underwriting strategies for the company's group benefits product portfolio, including both employer paid and Voluntary lines and also responsible for oversight of the medical underwriting and contracts/ policy issuance teams.
It applies to everyone in that segment, including employees of large companies, individuals, the elderly and for both genders without medical underwriting.
Myth #3: Medical underwriting is a four-letter word.
Sunderlin will work alongside Evan Smith, who heads Beazley's miscellaneous medical underwriting team in Chicago.
Miravast's team of insurance professionals has extensive experience underwriting and managing portfolios of life insurance policies, including the development of a proprietary mortality table and medical underwriting manual.
What is the desired minimum versus expected participation, and how will this impact GI and medical underwriting decisions?
Joe creates financial and medical underwriting rationales that encourage carrier acceptance through underwriting manual policy and practice, testing thresholds and preferred class parameters in conjunction with actuarial pricing constraints.
The Hartford also offers medical underwriting for structured settlements, a capability that not all carriers are able to provide.
Because there is no medical underwriting, nobody with any medical condition will be denied coverage, subject to eligibility roles.
Recent advances in the accuracy of medical underwriting have enabled a "widening" of the conditions that might qualify for an enhancement.
Specifically, it streamlines and optimizes underwriting decision-making by applying business rules and enhancing traditional medical underwriting information with external data.
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