LIFE INSURANCE UNDERWRITING GUIDE

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Underwriting factors...
...determine your life insurance premium. The table at the right shows the factors used for our study profile. Yours will of course be different.

Health and Lifestyle
We studied the cost impact of the major health and lifestyle factors: cholesterol, blood pressure, build (height and weight), family history of cancer and heart disease, and driving record.

Other factors, such as hazardous occupations and hobbies, citizenship, and international travel, are also considered by the insurance companies but are out of scope for this study.

Methodology
We chose the companies which appear most often on Internet quote sites. We used the field underwriting guides supplied directly to agents by the life insurance companies. These guides specify the premium classification for each underwriting factor.

Underwriting Factor Average Profile Comparison Profile
Face Amount $ 500,000 $ 500,000
Policy Type 20 Year Term 20 Year Term
Age 45 45
Sex Male Male
Tobacco Use None None
Height 5' 10" 5' 10"
State of Residence California California
Total Cholesterol See Graph See Graph
Cholesterol Ratio See Graph See Graph
Systolic Pressure See Graph See Graph
Diastolic Pressure See Graph See Graph
Weight See Graph See Graph
Family Diagnosis See Graph See Graph
Family Death See Graph See Graph
Driving Record See Graph See Graph
We obtained life insurance quotes from the Term4Sale.com database. We plot average profile underwriting factors versus average premium to illustrate the cost of poor underwriting factors. We plot comparison profile underwriting factors versus comparison premiums to illustrate the cost of choosing the wrong company.


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