Product Description

Empowering and Knowledge-based: A Wealth of Information

The book takes up the complicated life insurance topic of underwriting and provides a clear understanding of what the process is and what it seeks to accomplish. The author, El-Tumu Trueh, a fellow of the life management institute with significant industry experience, provides for readers a candid discussion of the general life insurance application process; imparting knowledge of significant value to consumers. The book, a must read for life insurance agents and those employed in the life insurance industry - particularly sales and distribution, is well presented and will leave readers greatly empowered in industry knowledge.

Product Details

• Amazon Sales Rank: #654842 in Books
• Published on: 2006-08-30
• Original language: English
• Number of items: 1
• Binding: Paperback
• 80 pages

About the Author
ABOUT THE AUTHOR:
El-Tumu Trueh is a fellow of the life management institute. Experienced at both the direct and reinsurance levels, he has certificates in various areas of insurance including accounting, auditing, and company operations. He holds the LOMA certificate in underwriting, the Academy of Life Underwriting certificate in Risks Selection in addition to three designations: ACS, ARA and FLMI from the Life Office Management Association. He obtained a Bachelors of Science (B.Sc.) degree in Mathematics from the Cuttington University College, a Masters degree (MPA) in Public Administration from the graduate school at Arkansas State University and was initiated in Pi Alpha Alpha, the National Honor Society for Public Affairs and Administration. He did post graduate studies at The Ohio State University in Columbus, Ohio and currently works with a North Carolina based Reinsurer.

Excerpt. © Reprinted by permission. All rights reserved.
TABLE OF CONTENTS

PART I: Introduction

- What is life underwriting?

PART II: Deconstructing the myth
- Insurance justification
- Reasons for insurance justification
- Insurable interests

PART III: Purchasing life insurance
- Shopping for impaired risks
- Types of insurance - term vs whole life
- The life insurance application
- Insurance forms - what is the applicant signing?
- Understanding the quote

PART IV: Underwriting requirements
-

Medical requirements
- Labs - what are tested?
- Lab results
- The blood profile
- The urine specimen

- Factors which affect lab results
- Chain of custody
- Notice and consent for lab testing
- Benefits of medical applications

- Non Medical Versus Guaranteed products

PART V:

The cost of lifestyle choices
- Smoking? The most common misrepresentation
- Obesity - where do you stand in build?

PART VI: External sources

- The Medical Information Bureau (MIB)
- How does the MIB work
- What is reported to the MIB?
- Underwriting vendors

PART VII: The insurance application decision
- The approval
- The decline

- Understanding risk classification
- Substandard premium
- Obtaining an explanation for the decision
- Improving the offer

PART VIII: In Closing
- Choosing the right company
- Sources of insurance ratings
- Key things to remember

- The future of underwriting
- Questions and answers

States department of insurance - Contact Information

About the author

Customer Reviews

A genuine asset for people trying to comprehend underwriting
If you are an insurance seeker or a new life insurance agent, you will have a solid foundation for understanding the risk appraisal...better known as "underwriting"...process that stands between you and coverage or commission, respectively.

The author covers all the essentials, beginning with a baseline explanation of what life insurance is all about. The underwriting process is meticulously described with making it too complicated for the prospective buyer.

Is this book going to be an asset to experienced brokers or underwriters themselves. No. Its stated intention is to cover the basics. As someone who has probably written more about underwriting than anyone else will admit to, this much-needed guide earns a solid "thumb's up!"