With so many information about the importance of insurance, I am sure that you are already aware of this. But there is one question which causes you not yet to decide to immediately register your family to the insurance company, the question is "whether I have the qualifications to be insured"?
That's right is not it ??
Became the unfortunate thing if your family must be protected, but this was not done because of fear if your application is rejected.
So let me to explain the basic principles of selection to customers. The underwriting process (risk selection) in the insurance are conduct by:
Therefore, in filling an insurance submission file, the field underwriter always conducted interviews regarding:
After that, the data is processed and the selection will be continued by the financial underwriter.
The data from the marketers will become 100% of reference for the team in selecting the the health a prospective customer.
For example, a prospective customer had been treated and then underwent intestinal surgery, then the doctor of the insurance company will make recommendations to marketers to conduct medical check-ups to potential customers (costs will be borne by an insurance company). Some of the decisions of the selection of these risks is:
1.Standar
Immediately accepted as a client, and the policy will be issued in accordance with the benefits taken.
2.Substandar
a.Exclusion
The principle of insurance companies is pre existing condition, means an existing disease (before a prospective customer become the customer) but relapsed after become a customer, then the claim will not be covered. Except for seasonal diseases such as dengue fever, malaria, typhus.
Similar to car insurance, if part of the car is already damaged before insured, then after insured, that part will not be covered.
b.Extra loading / extra cost of insurance
The principle of an insurance is to give fairness to all customers, the cost of the risk of a healthy person and a sick person will be different. People who are sick will have a higher risk costs. Therefore required additional premium in order to obtain the desired benefits.
c.Restriction
Suppose someone wants to take a certain amount of compensation for death, but because the person had been sick before, then the companies only allow claims for compensation with a smaller amount (this process has done when submission process to become customer, not the process after become a customer)
d.Declined
The submission may be rejected by insurance companies because of several things, such as the condition with very poor health, living in areas prone to conflict (have a level higher risk of death compared to other regions), an unhealthy lifestyle and so on.
If the customer is accepted, it will be written in the insurance contract that is signed by the person who has the authority.
That's right is not it ??
Became the unfortunate thing if your family must be protected, but this was not done because of fear if your application is rejected.
So let me to explain the basic principles of selection to customers. The underwriting process (risk selection) in the insurance are conduct by:
1. The Field Underwriter
Marketers or insurance consultant is a field man who see physically to selects the health condition and the intention of the prospective customer.Therefore, in filling an insurance submission file, the field underwriter always conducted interviews regarding:
- Smoking behavior (frequency of smoking), including a history of being treated in the hospital or not? If yes, will be asked details about the name of the disease, when the last time the disease relapses, hospital name, year of hospitalization, and the actions taken by the doctor during the treatment.
- Abnormalities experienced by prospective customers (e.g heart defects, stroke, increased cholesterol, etc.).
- Whether the prospective customer ever conduct an examination of the heart / blood / urine / x-ray / USG / biopsy
- Is there a family among prospective customers who has died because of had suffered from coronary heart / stroke / diabetes / cancer / congenital abnormalities.
- Whether prospective customers ever used illegal drugs or addictive substances in the last 5 years.
- Whether prospective customers drinking an alcoholic drink more than 750 cc per week?
- Whether the prospective customer ever involved a criminal act?
- Whether the prospective customer has a high-risk hobby?
- How much income and regular expenses of the family?
After that, the data is processed and the selection will be continued by the financial underwriter.
2. The Financial Underwriter
The insurer in this case is the insurer's financial team with the aim to see whether a prospective customer is able to:- Conduct regular premium payments related to income customers
- If a potential customer choose the life insurance with death compensation above a certain amount, then the prospective customer will be required to include some data regarding the ownership of assets.
3. The Medical Underwriter
Medical underwriter is the person providing recommendations regarding the feasibility potential clients to be accepted based on their health.The data from the marketers will become 100% of reference for the team in selecting the the health a prospective customer.
For example, a prospective customer had been treated and then underwent intestinal surgery, then the doctor of the insurance company will make recommendations to marketers to conduct medical check-ups to potential customers (costs will be borne by an insurance company). Some of the decisions of the selection of these risks is:
1.Standar
Immediately accepted as a client, and the policy will be issued in accordance with the benefits taken.
2.Substandar
a.Exclusion
The principle of insurance companies is pre existing condition, means an existing disease (before a prospective customer become the customer) but relapsed after become a customer, then the claim will not be covered. Except for seasonal diseases such as dengue fever, malaria, typhus.
Similar to car insurance, if part of the car is already damaged before insured, then after insured, that part will not be covered.
b.Extra loading / extra cost of insurance
The principle of an insurance is to give fairness to all customers, the cost of the risk of a healthy person and a sick person will be different. People who are sick will have a higher risk costs. Therefore required additional premium in order to obtain the desired benefits.
c.Restriction
Suppose someone wants to take a certain amount of compensation for death, but because the person had been sick before, then the companies only allow claims for compensation with a smaller amount (this process has done when submission process to become customer, not the process after become a customer)
d.Declined
The submission may be rejected by insurance companies because of several things, such as the condition with very poor health, living in areas prone to conflict (have a level higher risk of death compared to other regions), an unhealthy lifestyle and so on.
If the customer is accepted, it will be written in the insurance contract that is signed by the person who has the authority.
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