Regarding underwrite health insurance

[tissuebox]

Hi gurus,

I need advice on this. Can we ask insurance agent to underwrite first before signing any payment form like cpf form etc?

Thanks.

 

[soneat]

Hi gurus,

I need advice on this. Can we ask insurance agent to underwrite first before signing any payment form like cpf form etc?

Thanks.

You mean ask the insurance company to underwrite the policy without payment first? Yes, I believe it can be done but what would be your reasons to do so?

 

[dexboi]

Definitely can submit proposal application first, wait for underwriting result, then decide whether you want to finally take it up or not.

I always do this, never give cash / or payment details until everything is finalized.

 

[dexboi]

Since this is all about underwriting health insurance, i have always been curious about their job:

What do they really do?
How do they assess our riskiness?
Is there an automated risk calculation system to measure us?
What about exclusions? How do they know which family of illnesses to exclude?
Are underwriters doctors too??!

Finally, how much do they earn? haha

 

[MikeZhang]

Hi gurus,

I need advice on this. Can we ask insurance agent to underwrite first before signing any payment form like cpf form etc?

Thanks.

You can go for pre-medical underwriting. Depending if your agent willing to do so.

OR

By submitting and waiting for result might not be good for you. If you are rejected and wanna apply for other insurer, you will need to declare and tell them why you are rejected. Best is to submit all 6 insurers together at once and let them get back to you.

 

[3amcoffee]

Hi gurus,

I need advice on this. Can we ask insurance agent to underwrite first before signing any payment form like cpf form etc?

Thanks.

if u know u have some pre-existing conditions
better dun let those salesman agents or your buddy buddy handle

get some experienced guy to do it

 

[xelsingaz]

Since this is all about underwriting health insurance, i have always been curious about their job:

What do they really do?
How do they assess our riskiness?
Is there an automated risk calculation system to measure us?
What about exclusions? How do they know which family of illnesses to exclude?
Are underwriters doctors too??!

Finally, how much do they earn? haha

I used to be a underwriter for group and individual health.

daily I receive application/quotation requests that have non-standard conditions. review them and decide whether to offer/exclude/restrict or cap/reject the application.

riskiness: age, gender, occupation, smoker,medical history, family history(occasionally required) and many others.

Automated risk calculation: no. people cannot be measured automatically. any sort of automatic calculation forms a "base rate" of which any external factors from the above are added on.

exclusions are applicable if the condition is considered to be a "recurring" condition, and/or non-recoverable. examples are cardiovascular conditions, cataracts, or basically anything that the insurance company forsees likely to recur, despite full recovery. there is a standard underwriting guideline for each condition that each underwriter must follow. any deviations of this guideline must be escalated upwards, and yes, there are doctors within the insurance company(life insurance companies) to review such cases if required.

junior underwriters earn anything between 2.5k to 4.5k (depending on company and product complexity) and senior underwriters upwards of that. health underwriting depends alot on experience and you will find that senior health/medical underwriters are always in demand despite the terrible hours and work style.

many people think that agents are out to scam you, but in reality, they are your best negotiators. find agents that are willing to listen to you and fight for your case with the underwriters.