By Tom McCarthy* and Doug Ingle† Life is finite. That is one certainty we all understand. The final resolution… death. In many basic ways, this simple but universal concept is what fuels the life insurance industry. In most instances the unknown is when, during an individual’s life span, death will rear its ‘ugly head’. The concept of risk selection or underwriting exists in order to allow insurance carriers to try to ‘predict’ what a given individual’s remaining life expectancy might be. This comes from close review of medical and non-medical history either in detail (in traditional underwriting) or via data…
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