Health Insurance Underwriting
Evaluating an applicant's medical history, occupation, and avocations to classify risk and set premium, historically allowing decline or rate-up; restricted by ACA guaranteed issue in individual major medical.
Drill all 803 terms as flip-card flashcards in the Exam Engine →
Practice This Concept
An applicant for health insurance has poorly controlled diabetes and works in a lead foundry. For risk classification, these facts are best described as:
Physical hazards — Physical hazards are tangible conditions that increase the chance of loss. Poorly controlled diabetes and work in a lead foundry are concrete, objective facts that raise the probability of illness or injury. Physical hazards can be identified, measured, and priced by underwriters. They are distinct from moral hazards, which involve dishonesty, and morale hazards, which involve carelessness, and they are not a type of risk such as a speculative risk, which involves a chance of gain.
National insurance concept
Practice all medical expense questions →