Important Points for IC 22 - Life Insurance Underwriting Exam
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BMI is expressed as weight (in kg) / height in (mm ^ 2)
Medico-actuarial studies have proven the extra risk associated with a person who is either overweight or underweight. At younger ages, being underweight is seen to be adverse as it may point towards tuberculosis, anaemic conditions or some other serious infections.
Excess weight and obesity have proven to be more harmful at middle or higher ages, and could potentially lead to hypertension, cardio-vascular diseases etc., which are degenerative in nature and are risk parameters. Build charts / tables are based on mortality and morbidity studies carried out by experience studies over a large group of insured lives. It consists of standard weights for males and females for different heights, which are used as indicators to predict the mortality. The chest girth in addition to the height and weight give an estimate of the mortality rate.
Medical-sum-at-risk refers to the total face-value or sum assured under risk for a certain policy for ascertaining the type of medical tests to be done by the life proposed as pre-insurance screening.
The FSAR is used for financial underwriting and covers the total sum assured existing and proposed with all the insurance companies put together and not restricted only to the companies that the client is currently applying for, but of all insurance companies that he has policies he has with. Companies also include the sum-assured of the policies which are in the lapsed-state and are within the eligible period of revival with ALL insurers.
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