MTHEL131 Lecture Notes - Lecture 8: Electrocardiography

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Mthel 131 lecture 8,9: underwriting, sales force, disability. Top 3 illnesses people die from: heart attack, stroke, cancer. Underwriting tools: application, examination, attending position statement, hazardous sports questionnaire, lab tests, blood, urine saliva, ekg, x-ray. Young, small $: application and letter to doctor. Saves information if someone has been declined from insurance. Underwriting outcomes: standard 75, substandard or rated (concern but make an offer for more money) 10, decline 15% If pay premiums while waiting for policy to be delivered, have 10 days from policy delivery to change your mind. Policy assignment: absolute assignment (parent transfer to now adult child, collateral (until loan is paid off bank owns policy) If death occurs the bank receives the full death benefit but must pay any excess to beneficiary. Agents for a company could only sell products for that company. Pays a monthly benefit when an individual is unable to work. Odds 25-65yrs will be disabled a minimum 3 months: 60%

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