MODELLING CRITICAL ILLNESS INSURANCE DATA
|
|
- Dwain Powers
- 8 years ago
- Views:
Transcription
1 MODELLING CRITICAL ILLNESS INSURANCE DATA Howard Waters Joint work with: Erengul Dodd (Ozkok), George Streftaris, David Wilkie University of Piraeus, October
2 Plan: 1. Critical Illness Insurance (CI) 2. The Continuous Mortality Investigation (CMI) 3. A Markov model for Critical Illness 4. Data 5. The claim delay distribution 6. Critical Illness diagnosis rates 2
3 Critical Illness: Policy description Fixed term policy, usually ceasing at age 65 Level monthly premiums payable throughout the term A fixed sum insured payable on the diagnosis of one of a specified list of critical illnesses The policy ceases at the end of the term or on payment of the sum insured UK sales peaked in 2002 with around 1 million new policies being sold Benefit type: Full acceleration (FA): Death is included as a critical illness (88%) Stand alone (SA): Death is not included as a critical illness (12%) 3
4 Critical Illness: Diseases covered Critical illnesses and percentage of claims (FA) in Critical Illness % of claims Critical Illness % of claims Cancer 49.0 Total & permanent disability (TPD) 2.6 Death 17.6 Coronary artery bypass graft (CABG) 2.1 Heart attack (HA) 11.6 Kidney failure (KF) 0.6 Stroke 5.4 Major organ transplant (MOT) 0.2 Multiple sclerosis (MS) 4.3 Other causes 6.6 Males 57.3 Non smokers 73.9 Females 42.7 Smokers
5 The CMI: The CMI is a research organisation established by the UK actuarial profession in 1924 It collects data from contributing UK life insuance companies on: Mortality for life insurance policyholders Mortality and Morbidity for Income Protection policyholders Mortality and Morbidity for Critical Illness policyholders Mortality for members of self administered pension schemes The data collected covers of the UK market The CMI: Analyses the data for each contributing office and reports condfidentially Analyses the aggregated data and issues regular reports see Develops models and publishes standard tables 5
6 A Markov model for CI: Healthy 0 Dead 10 λ (10) x;θ λ (1) x;θ λ (2) x;θ λ (9) x;θ Cancer 1 Heart Attack 2.. Other Causes 9 λ (j) x;θ is the diagnosis intensity for cause j at age x with covariates θ. 6
7 Data: CI data for supplied to Heriot Watt University by the CMI: Details of policies in force at the start and end of each year policy-years of exposure Details of claims settled in claims 7
8 Data: Covariates in the data: Covariate Age Number of levels Continuous Sex 2 Smoker status 2 Policy duration Continuous Office 13 Benefit type Benefit amount Policy type Sales channel 2 (FA & SA) Continuous 2 (Single/Joint life) 5 (Bancassurer, Direct, IFA, Other, Unknown) 8
9 Data: Diagnosis is the insured event and there is a delay between diagnosis and settlement E[Delay] = 176 days; SD[Delay] = 269 days Practical problems 1 Missing Dates of Diagnosis. All claims have a Date of Settlement; only 82% have a Date of Diagnosis 2 Mismatch between Exposure and Claims. Exposure relates to policies in force from 1/1/ /12/2005 Claims data corresponds to claims settled (not diagnosed) in 1/1/ /12/2005 9
10 Data: Diagnosed before 1/1/99 Unknown date of diagnosis Claims settled?? Settled after 31/12/05 1/1/99 31/12/05 In force/diagnosis Time 10
11 Data: Practical problems 1 Missing Dates of Diagnosis. 2 Mismatch between Exposure and Claims. Practical solutions Construct a claim delay distribution (CDD) F (j) (u : x; θ) F (j) (u : x; θ) = Pr[claim diagnosed age x, cause j, covariates θ, will be settled within u years] 1 Estimate missing dates of diagnosis as: Date of settlement median of CDD 2 Use the CDD to adjust the exposure: Multiply the exposure by the probability that a claim diagnosed in the observation period will be settled in the observation period 11
12 Claim Delay Distribution: X represents the delay; z is a vector of covariates; β is a vector of coefficients X 3-parameter Burr f X (u) = ατ(u/s) τ u[1 + (u/s) τ ] α+1 E[X] = exp(β z T ) s = Γ(α) Γ(α 1 τ )Γ(1 + 1 τ ) exp(βzt ) α and τ are shape parameters s is a scale parameter 12
13 Claim Delay Distribution: Select the covariates to be retained using Bayes variable selection Covariate retained Effect on E[X] Benefit type FA/SA = 1.07 Policy type SL/JL 1.07 Benefit amount Policy duration Decreasing Decreasing Office Highest/Lowest = 2.45 Cause Highest (Stroke)/Lowest (Death) =
14 Claim delay distribution: Examples: Scenario Benefit type FA FA FA FA FA Policy type JL JL JL JL JL Benefit amount (GBP) Policy duration (years) Office Cause Cancer Cancer Cancer Death TPD E[X] (days)
15 Critical Illness diagnosis rates: Estimation of cause specific diagnosis rates: Our observation period is 1999 to 2005 Not all offices contribute for the whole 7 years Suppose Office 1 contributes data for 2000 to For this office: λ (j) x;θ θ is a set of covariates, including office is the diagnosis inception rate for cause j at age x with covariates θ E(u : x; θ) is the number of policies (age x, covariates θ) inforce at time u, 0 u 4 N (j) (x; θ) is the number of claims (cause j, age x, covariates θ) diagnosed and settled in N (j) (x; θ) Poisson ( λ (j) x;θ 4 u=0 E(u : x; θ) F (j) (4 u : x; θ) du) 15
16 Critical Illness diagnosis rates: Estimator/crude rate: / 4 ˆλ (j) x;θ = N (j) (x; θ) u=0 E(u : x; θ) F (j) (4 u : x; θ) du / 4 V[ˆλ (j) x;θ ] = λ(j) x;θ u=0 E(u : x; θ) F (j) (4 u : x; θ) du / ( 4 N (j) (x; θ) u=0 ) 2 E(u : x; θ) F (j) (4 u : x; θ) du 16
17 Critical Illness diagnosis rates: Model: ( λ (j) x;θ = λ(j) 1 (x) + exp λ (j) 2 (x) + β zt ) λ (j) i (x) is a polynomial function of age only, i = 1, 2 λ (j) 1 (x) 0 for each cause except death λ (j) 1 (x) 0 log linear model for λ(j) x;θ Use R to select the statistically significant covariates 17
18 Critical Illness diagnosis rates: Cause Significant covariates CABG Age Sex Smoker status Cancer Age Sex Year Smoker status Death Age Sex Smoker status Heart Attack Age Sex Smoker status Kidney Failure Age MOT MS Sex Smoker status Policy duration Other causes Age Sex Office Benefit type Stroke Age Sex Smoker status TPD Age Year Policy duration 18
19 Critical Illness diagnosis rates: Males, non smokers Cancer MNS Cancer Inception Rates 1.7e Weighted Rates Crude Rates (CR) CR +( ) 2SE Age 19
20 Critical Illness diagnosis rates: Males Cancer: Smokers/Non smokers MS/MNS Cancer Ratio of Inception Rates MS/MNS Age 20
21 Critical Illness diagnosis rates: Females, smokers Death FS Death Inception Rates 6.1e e Crude Rates (CR) Smoothed Rates CR+( )2SE Age 21
22 Critical Illness diagnosis rates: Males, smokers Heart Attack MS HA Inception Rates 1.5e 08 5e e Crude Rates (CR) Smoothed Rates CR+( )2SE Age 22
23 Critical Illness diagnosis rates: Heart Attack λ HA x:θ = exp [ β Male β Smoker + x ( β Smoker ) x 2 ( β Smoker ) ] Females Males Age Non smoker Smoker Non smoker Smoker Values of λ HA x:θ
24 Critical Illness diagnosis rates: Males, non smokers, Office 1, 2003, Pol Durn Inception Rate Other MS MOT KF TPD CABG Stroke Death Heart Attack Cancer Age 24
25 References: OZKOK E., STREFTARIS G., WATERS H.R. and WILKIE A.D. (2012) Bayesian modelling of the time delay between diagnosis and settlement for Critical Illness Insurance using a Burr generalised-linear-type model. Insurance: Mathematics and Economics, 50, OZKOK E., STREFTARIS G., WATERS H.R. and WILKIE A.D. (2013) Modelling Critical Illness claim diagnosis rates I: Methodology. Scandinavian Actuarial Journal, DOI: / OZKOK E., STREFTARIS G., WATERS H.R. and WILKIE A.D. (2013) Modelling Critical Illness claim diagnosis rates II: Results. Scandinavian Actuarial Journal, DOI: /
18/11/2014. The Effect of Model Uncertainty on the Pricing of Critical Illness Insurance. Outline: George Streftaris
The Effect of Model Uncertainty on the Pricing of Critical Illness Insurance George Streftaris 18 November 2014 Work with Erengul Dodd (Ozkok) Howard Waters Andrew Stott David Wilkie Funded by the IFoA
More informationCritical Illness insurance AC04 diagnosis rates
Health and care conference 2011 Dave Heeney and Dave Grimshaw, CMI Critical Illness Committee Critical Illness insurance AC04 diagnosis rates 20 May 2011 2010 The Actuarial Profession www.actuaries.org.uk
More informationA Stochastic Model For Critical Illness Insurance
A Stochastic Model For Critical Illness Insurance Erengul Ozkok Submitted for the degree of Doctor of Philosophy on completion of research in the Department of Actuarial Mathematics & Statistics, School
More informationA CRITICAL TABLE: PRICING CRITICAL ILLNESS IN THE UK ON A NEW INSURED LIVES TABLE
A CRITICAL TABLE: PRICING CRITICAL ILLNESS IN THE UK ON A NEW INSURED LIVES TABLE Paul Brett and Johann du Toit Paul Brett, Regional Chief Actuary and Assistant General Manager, Gen Re LifeHealth UK. Email:
More informationIRISH CRITICAL ILLNESS EXPERIENCE 2001-2003
THE SOCIETY OF ACTUARIES IN IRELAND IRISH CRITICAL ILLNESS EXPERIENCE 2001-2003 Report of the Critical Illness Working Party Anthony Brennan, Tony Jeffery, Brendan McCarthy, Colin Murray, Brenda Papillon,
More informationPractical Example of a Split Benefit Accelerated Critical Illness Insurance Product
Practical Example of a Split Accelerated Critical Illness Insurance Product Anton Brink, Ph.D. RGA UK Services Limited Presentation Disclaimers: Contains all personal views based on external research These
More informationUnderwriting Critical Illness Insurance: A model for coronary heart disease and stroke
Underwriting Critical Illness Insurance: A model for coronary heart disease and stroke Presented to the 6th International Congress on Insurance: Mathematics and Economics. July 2002. Lisbon, Portugal.
More informationA Stochastic Model For Critical Illness Insurance
A Stochastic Model For Critical Illness Insurance Erengul Ozkok Submitted for the degree of Doctor of Philosophy on completion of research in the Department of Actuarial Mathematics & Statistics, School
More informationHow To Get A Life Insurance Policy With Alpha Insurance
ADDITIONAL LIFE BENEFITS Alpha Waiver of Premium Payments At any Individual of up to 64 year of age who buys a life insurance policy with Alpha Insurance Waives the obligation of the policy owner to continue
More informationA Guide to Serious Illness Cover Creating your success through Financial Planning
& Guidance A Guide to Serious Illness Cover Contents How would the sudden onset of a serious illness impact my 02 financial wellbeing? What is serious illness cover? 03 What are the key causes of serious
More informationAn Update on the UK Critical Illness Market. Sue Elliott, Principal Consultant Towers Watson
An Update on the UK Critical Illness Market Sue Elliott, Principal Consultant Towers Watson Agenda for today New business sales update Experience update Association of British Insurers ("ABI") activity
More informationA Critical Review. Report of the Critical Illness Healthcare Study Group
A Critical Review Report of the Critical Illness Healthcare Study Group Azim Dinani, Dave Grimshaw, Neil Robjohns, Stephen Somerville, Alasdair Spry and Jerry Staffurth Presented to the Staple Inn Actuarial
More informationCritical Illness Claims Report 2006
This communication is intended for qualified financial advisers only and must not be relied upon by anyone else. This is the Critical Illness Claims Report 2006 from Assurance Limited Hello. This report
More informationPreliminary Report on. Hong Kong Assured Lives Mortality and Critical Illness. Experience Study 2000-2003
Preliminary Report on Hong Kong Assured Lives Mortality and Critical Illness Experience Study 2000-2003 Actuarial Society of Hong Kong Experience Committee ASHK - Hong Kong Assured Lives Mortality and
More informationCanadian Individual Critical Illness Insurance Morbidity Experience
Morbidity Study Canadian Individual Critical Illness Insurance Morbidity Experience Between Policy Anniversaries in 2002 and 2007 Using Expected CIA Incidence Tables from July 2012 Individual Living Benefits
More information8 Selection. Insurance company desires lives insured to be homogeneous with respect to: mortality. morbidity. any other characteristic of interest
8 Selection Insurance company desires lives insured to be homogeneous with respect to: mortality morbidity any other characteristic of interest Also, when a policyholder purchases a policy, they: wishtopooltheirriskswithsimilarrisks
More informationArticle from: Product Matters! November 2002 Issue No. 54
Article from: Product Matters! November 2002 Issue No. 54 What Is Critical Illness Insurance? by Susan Kimball Editor s Note: This article has been adapted from an article on the same topic that Ms. Kimball
More informationBUYING LIFE INSURANCE PRODUCTS DIRECTLY FROM INSURANCE COMPANIES WITHOUT COMMISSIONS
BUYING LIFE INSURANCE PRODUCTS DIRECTLY FROM INSURANCE COMPANIES WITHOUT COMMISSIONS Singapore, 30 July 2014 The Monetary Authority of Singapore (MAS) announced today the features of life insurance products
More informationEasy Term Policy Specs
Easy Term Easy Term Policy Specs Simplified issue / Non-Med Term Life Insurance 10, 20 & 30 year guaranteed level premium periods Available as a Return of Premium plan for the 20 & 30 year guaranteed level
More informationSmall Talk Newsletter
Article from: Small Talk Newsletter May 2003 Issue No. 20 Smaller Insurance Company Newsletter What is Critical Illness Insurance? by Susan Kimball Editor s Note: This article has been adapted from an
More informationPricing the Critical Illness Risk: The Continuous Challenge.
Pricing the Critical Illness Risk: The Continuous Challenge. To be presented at the 6 th Global Conference of Actuaries, New Delhi 18 19 February 2004 Andres Webersinke, ACTUARY (DAV), FASSA, FASI 9 RAFFLES
More informationCritical Illness Insurance. What is Critical Illness Insurance
Critical Illness Insurance What is Critical Illness Insurance Whereas life insurance has been readily available for literally hundreds of years, critical illness insurance is a relatively recent development.
More informationGroup Term Insurance Plan
Group Term Insurance Plan ICICI Prudential Group Term Insurance Plan Are you a conscientious Employer? Have you insured your valuable human assets for a Life Protection cover? Invest in your employees
More informationα α λ α = = λ λ α ψ = = α α α λ λ ψ α = + β = > θ θ β > β β θ θ θ β θ β γ θ β = γ θ > β > γ θ β γ = θ β = θ β = θ β = β θ = β β θ = = = β β θ = + α α α α α = = λ λ λ λ λ λ λ = λ λ α α α α λ ψ + α =
More informationSBI Life Insurance Company Limited
(UIN: 111N040V02) SBI Life Sampoorn Suraksha Group Life Insurance Plan (SBI Life) offers SBI Life Sampoorn Suraksha, a feature-rich Group Life Insurance product to cover employersponsored group insurance
More informationPeace. Mind. VivoLife. Why is it good for me? Flexible payment terms. A lifetime of protection. 4 enhanced protection 1 (up to 350% of sum assured)
Peace of Mind VivoLife Flexible payment terms. A lifetime of protection. VivoLife gives you the flexibility to choose from 3 levels of enhanced protection 1 for you and your loved ones. What s more, enjoy
More informationConsumers Can Now Compare Life Insurance Products Online and Buy Them Without Commissions
10 Shenton Way MAS Building Singapore 079117 Telephone : (65) 6225-5577 FOR IMMEDIATE RELEASE Consumers Can Now Compare Life Insurance Products Online and Buy Them Without Commissions Singapore, 31 March
More informationGen Re Dread Disease Survey 2004-2008 Initial Results
Gen Re Dread Disease Survey 2004-2008 Wolfgang Droste Session Number: MBR8 Joint IACA, IAAHS and PBSS Colloquium in Hong Kong www.actuaries.org/hongkong2012/ Agenda Background of Gen Re s Dread Disease
More informationCritical Illness Insurance
Critical Illness Insurance The Actuaries Club of the Southwest November, 11 2004 Presented By: Steve Pummer, Towers Perrin Agenda Background Product Design Pricing Risk Management The Regulatory Environment
More informationA Guide to Critical Illness Insurance
A Guide to Critical Illness Insurance This guide about Critical Illness cover is designed to help you decide if this is a suitable product for you. It aims to help by answering the following questions:
More informationComplete protection for your home loan.
Complete protection for your home loan. Life Insurance Cover for your home loan liability Covers entire home loan even when interest rates increase Terminal Illness Cover Optional Cover for accidents,
More informationCRITICAL ILLNESS INSURANCE SURVEY SUMMARY
Survey Participants American-Amicable Life Insurance Company of Texas Americo Canada Life Insurance Company Central States Health & Life Co. of Omaha Colonial Life & Accident Colorado Bankers Life Combined
More informationSerious-illness insurance
Serious-illness insurance for independent information About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help you make informed decisions
More informationGuaranteed Term Protection. Policy Document
Guaranteed Term Protection Policy Document Introduction This document explains in detail the workings of your Guaranteed Term Protection Policy. It is important that you read each section of the document
More informationSBI Life Insurance Company Limited
(UIN: 111N040V02) SBI Life Sampoorn Suraksha Group Life Insurance Plan Protecting employees, the most critical asset of an organization, is an important business practice. There is an everincreasing need
More informationSimplified Issue Term
American-Amicable Life Insurance Company of Texas IA American Life Insurance Company Occidental Life Insurance Company of North Carolina Pioneer American Insurance Company Pioneer Security Life Insurance
More information1. This Notice is issued pursuant to section 64(2) of the Insurance Act (Cap. 142) ( the Act ).
Notice No: MAS 321 Issue Date: 30 March 2015 NOTICE TO LIFE INSURERS INSURANCE ACT, CAP 142 DIRECT PURCHASE INSURANCE PRODUCTS Introduction 1. This Notice is issued pursuant to section 64(2) of the Insurance
More informationCRITICAL ILLNESS PLAN. Ease the financial burden due to a critical illness.
Ease the financial burden due to a critical illness. You want to live a long & fulfilling life. With many unexpected life changing events you want peace of mind knowing that you are prepared for any of
More informationNational specific template Log NS.09 best estimate assumptions for life insurance risks
National specific template Log NS.09 best estimate assumptions for life insurance risks CELL(S) ITEM INSTRUCTIONS N/A General Comment This template is applicable to life insurers and life reinsurers. The
More informationBirla Sun Life Insurance Riders. Birla Sun Life Insurance Company Limited
Birla Sun Life Insurance Riders Copyright 2008 Insurance is the subject matter of the solicitation. Tax benefits are subject to changes in tax laws. Refer to rider product brochure for more details. BSLI
More informationStatistical Analysis of Life Insurance Policy Termination and Survivorship
Statistical Analysis of Life Insurance Policy Termination and Survivorship Emiliano A. Valdez, PhD, FSA Michigan State University joint work with J. Vadiveloo and U. Dias Session ES82 (Statistics in Actuarial
More informationCritical Illness Fit for the Elderly?
No. 31, October 2014 Critical Illness Fit for the Elderly? by Tim Eppert + Critical illness (CI) insurance provides a financial lifeline to people facing the consequences of being diagnosed with a severe
More informationIndustry Critical Illness Survey. Eddie McEllin Senior Actuary Tel. +61 2 8236 6206 eddie.mcellin@genre.com
Industry Critical Illness Survey Eddie McEllin Senior Actuary Tel. +61 2 8236 6206 eddie.mcellin@genre.com About the Survey Survey covered 9 Australian insurers of Trauma insurance Annual Premium $m, %
More informationTerm Assurance INVESTMENTS PENSIONS PROTECTION
Term Assurance About Canada Life Established in 1903, the Canada Life Group has grown to be a modern and dynamic international financial services business. We are part of Great-West Life, one of the world
More informationLife, Critical Illness and Income Protection Claims Summary. From January to December 2013
Life, Critical Illness and Income Protection Claims Summary From January to December 2013 This is why we are here to financially protect our customers when they need it most. We are proud of what we have
More informationLifetime Protection Plan from Standard Life Protecting you and your family
Lifetime Protection Plan from Standard Life Protecting you and your family Remember when you thought you were invincible 1 of 33 2 of 33 When was the last time you felt invincible? Contents The need for
More informationTerm Life Insurance. Permanent Life Insurance PRODUCT GUIDE 4987-02A-JUL14. LifePhases is marketed through PPI Solutions.
Term Life Insurance Permanent Life Insurance PRODUCT GUIDE 4987-02A-JUL14 LifePhases is marketed through PPI Solutions. This document is a summary of the various features of the LifePhases and LifePhases
More information52,929,390 paid out in critical illness claims in the first six months of 2013*
Critical Illness Report (January to June 2013) 52,929,390 paid out in critical illness claims in the first six months of 2013* 66 % Cancer 12 % Heart Attack 9 % Other 3 % Benign Brain Tumour 4 % Multiple
More informationCritical Illness Presentation
1 Critical Illness Presentation Susan Kimball Executive Director of Living Benefits 27 th International Congress of Actuaries March 18, 2002 2 Overview Critical Illness Insurance Regulatory Issues in the
More informationForesters Lifefirst Non-Medical Term Insurance
Special offer extended by popular demand Foresters Lifefirst Non-Medical Term Insurance Now available up to $350,000 Available through to age 55 No exams, no fluids, no APS, no routine PHIs No cost annualization
More informationPersonal Insurance. Do I need Trauma cover? a safety. to help get you back on track
Personal Insurance Do I need Trauma cover? a safety to help get you back on track Being able to focus on your recovery after suffering a traumatic event is going to be your primary concern. Having trauma
More informationMultiple Critical Illness Benefits from market needs to product solutions
June 2013 Newsletter Multiple Critical Illness Benefits from market needs to product solutions Asia-Pacific experience Author Karsten de Braaf Head of Product Development Asia-Pacific R&D Centre - Disability
More informationCritical illness report 2005
Critical illness report 2005 1 Critical illness report 2005 Critical Illness cover pays out a lump sum if you are diagnosed within the term of the policy with a critical illness that meets the policy definition.
More informationFrequently Asked Questions
Frequently Asked Questions What is Secure Mind policy? Secure Mind offers unique feature that provides a lump-sum benefit on happening of the following unforeseen events 1) Diagnosis of any of the 9 named
More informationA TERM PLAN THAT OFFERS MORE THAN THE SUM ASSURED. Aegon Life Term Insurance Plan A life insurance plan
A TERM PLAN THAT OFFERS MORE THAN THE SUM ASSURED Aegon Life Term Insurance Plan A life insurance plan INTRODUCTION Your family looks to you for support and strength. You have given them the best till
More informationAmerican Heritage Life Insurance Company
Benefits Specified Critical Illness Benefit Primary insured: $25,000 The policy pays the following benefits for covered illnesses subject to the conditions below along with the Exclusions and Limitations
More informationINVESTMENT SAVINGS & INSURANCE ASSOCIATION OF NZ INC ISI QUARTERLY STATISTICS GUIDELINE FOR COMPLETING RETURNS
INVESTMENT SAVINGS & INSURANCE ASSOCIATION OF NZ INC ISI QUARTERLY STATISTICS GUIDELINE FOR COMPLETING RETURNS REVISED SEPTEMBER 2009 REVISION - September 2009 ISI Quarterly Statistics Guidelines for Completing
More informationCritical illness conditions covered
For financial adviser use Critical illness conditions covered Provider Alzheimer s Disease age 65 age 60 Aorta graft surgery for disease Benign brain tumour Blindness permanent and irreversible Cancer
More informationFrequently Asked Questions (FAQs) Group Easy Health Plan
1. Can a customer buy multiple policies of Rs. 2 lacs each? Yes, customer can buy multiple policies of 2 lacs each as per current underwriting policy. 2. If the account holder is an NRI, what is the procedure
More information43,303,919 paid out in critical illness claims in the first six months of 2012*
Critical Illness Claims Report 43,303,919 out in critical illness claims in the first six months of 2012* 60 % Cancer 16 % Heart Attack 10 % Other 3 % Benign Brain Tumour 5 % Multiple Sclerosis 6 % Stroke
More informationProtecting Your Assets and Lifestyle: A Critical Illness Insurance Review
Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review If a serious illness strikes, how will you protect your assets and lifestyle from financial hardship? Table of Contents Page Your
More informationGROUP PROTECTION. Group Critical Illness Cover. Technical guide for employers. Employee Benefits made easier by Legal & General
GROUP PROTECTION Group Critical Illness Cover Technical guide for employers Employee Benefits made easier by Legal & General Welcome to Legal & General We have been working with intermediaries, pension
More informationCritical Illness Protection Rider Product Overview
Critical Illness Protection Rider Product Overview Whether it s a young family with a mortgage to pay and other financial commitments, or a couple who is close to retirement and who want to protect their
More informationCritical Illness Insurance. Second Chance for Children 30 days to 17 years
Critical Illness Insurance Second Chance for Children 30 days to 17 years Second Chance for Children Protect your children in case of critical illness so you can afford to stay by their bedside If one
More informationWhat do these mean?...
Protect your Home We recommend that once you have decided on your new mortgage you should protect your home as you never know what challenges life will throw at you. We are here to help you meet these
More informationLife Settlements and Viaticals
Life Settlements and Viaticals Paul Wilmott, Wilmott Associates, paul@wilmottcom This is taken from the Second Edition of Paul Wilmott On Quantitative Finance, published by John Wiley & Sons 26 In this
More informationCritical Five Policy. Key Features and Product Summary
Critical Five Policy Key Features and Product Summary This policy from Combined Insurance offers protection for you and your family in the event of a serious illness. Please refer to your Policy Document
More informationCritical Illness Global Market Overview
Critical Illness Global Market Overview IAA Health Section Critical Illness Topic Team Presented by Sue Elliott (chair), Neil Hilary and Peter Temple 1 June 2006 SUMMARY Introduction Regions around the
More informationGet the whole story about Critical Illness and how this could affect you
Get the whole story about Critical Illness and how this could affect you Aviva s Critical Illness claims report 2009 Aviva s 2009 critical illness claims report For most of us, the importance of having
More informationDoctors of BC Critical Illness Insurance
Doctors of BC Critical Illness Insurance CI Critical Illness Insurance Have greater control over the impact a serious illness may have on your life. As a doctor, you ve likely witnessed patients trying
More informationTRANSAMERICA LIFE INSURANCE COMPANY Trendsetter LB 10 1. Life Insurance Supplemental Quote
1 Valued Client male age 45, preferred, non-smoker Initial ANNUAL Premium: Face Amount: Riders: $630.00 $500,000 NONE Life Insurance Money for your Beneficiary Face Amount $500,000 on the insured. Accelerated
More informationKey Features of the Forester Life Mortgage Protection Options Plan. Key Features
Key Features of the Forester Life Mortgage Protection Options Plan The Financial Conduct Authority is a financial services regulator. It requires us, Forester Life, to give you this important information
More informationINSTITUTE AND FACULTY OF ACTUARIES EXAMINATION
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 INSTITUTE AND FACULTY OF ACTUARIES EXAMINATION 8 October 2015 (pm) Subject CT5 Contingencies Core Technical
More informationAdditional General Information regarding Personal Protection
Additional General Information regarding Personal Protection Information regarding the research we used The research house we subscribe to regarding personal protection is Omnium. In a separate document
More informationCRITICAL CARE ADVANTAGE
Health Protection CRITICAL CARE ADVANTAGE Be covered across three stages of illness - early, intermediate and critical The chances of a full recovery from a critical illness are now much higher due to
More informationKeyperson and Shareholder Protection. Business Momentum Adviser Guide
Keyperson and Shareholder Protection Business Momentum Adviser Guide Contents Page No. 1 Introduction 2 2 Choosing the right cover 2 3 Detailed Product Information 3 Life and Life and Permanent Total Disability
More informationZurich Life Risk Trauma cover
Product Summary Issued 21 December 2015 Zurich Life Risk Trauma cover Adviser use only Trauma insurance provides a lump sum payment on diagnosis or occurrence of a covered trauma. This is a summary only
More informationA Mortgage Insurance Plan designed specifically with you the Mortgage Broker in Mind
A Mortgage Insurance Plan designed specifically with you the Mortgage Broker in Mind Unique Coverage approach with competitive premiums No paperwork using our Internet Delivery System Increase revenue
More informationTaking care of tomorrow
Friends Life Protection Account Critical Illness Cover Guide Taking care of tomorrow Critical Illness Cover Taking care of tomorrow Friends Life Critical Illness Cover is here for you through whichever
More information13. Poisson Regression Analysis
136 Poisson Regression Analysis 13. Poisson Regression Analysis We have so far considered situations where the outcome variable is numeric and Normally distributed, or binary. In clinical work one often
More informationProtecting you and your world. Mortgage Protection. With Serious Illness Cover
Protecting you and your world Mortgage Protection With Serious Illness Cover Serious Illness Cover for your Mortgage from Caledonian Life Caledonian Life s Mortgage Protection policy offers you a cost-effective
More information* SBI Life - RiNn Raksha will be referred to as RiNn Raksha hereafter.
Need for Group Credit Life Insurance SBI Life Insurance Company Limited (SBI Life) offers SBI Life RiNn Raksha*, a feature-rich Group Credit Life Insurance product to pay off the outstanding loan offered
More informationProduct specification
Product specification Term life insurance CriticaLife /Level Term Life General information Issue ages: Individual: 10 year duration 18-70; 20year duration 18-60 Spouse: 10 or 20 year duration 18-60 Child:
More informationabout our eselect Protection Life or Earlier Critical Illness Cover
about our eselect Protection Life or Earlier Critical Illness Cover We set out the main points about our eselect Protection Life or Earlier Critical Illness Cover below. Your personal illustration shows
More informationSimply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement
Simply Smarter Life Insurance Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Budget Direct Life Insurance and Budget Direct Accidental Death Insurance
More informationCritical Illness Direct
Critical Illness Direct Insurance that pays you, not your provider A critical illness can strike suddenly and disrupt your daily life in ways that are both physical and financial. While it is important
More informationTerminal illness pricing considerations. Steve Varney
pricing considerations Presenters Brad Louis Steve Varney AGENDA 1. Current Status 2. Estimating TI Cost 3. Data and Critical Assumptions 4. Estimated Costs 5. Conclusions 1: CURRENT STATUS Terminal Illness
More informationOptional Group Critical Illness. Financial support at a critical time
Optional Group Critical Illness Financial support at a critical time Medical advances have greatly increased the ability of Canadians to survive a critical illness. However, few of us are prepared for
More informationPRODUCT PURPOSE BENEFIT. Death Benefit or Total Permanent Disability Benefit
PRODUCT PURPOSE A whole life critical illness insurance, protecting until 99 years old which is suitable for all ages A financial support against 15 most common Critical Illness. Especially waiver all
More informationMedGuard Critical Illness Insurance
MedGuard Critical Illness Insurance Exclusively marketed by: TM MedGuard-BR-FL-FLIC-0410 Quality Coverage When You Need It Most MedGuard Although nobody likes to think about it, the possibility of being
More informationVista. Additional benefits
Vista Additional benefits By choosing to invest with Vista, you are planning to help ensure that you and your family will be able to afford a comfortable retirement, a holiday of a lifetime, a good education
More informationMinimum Entry Age Maximum Entry Age. The minimum and maximum sum assured are $50,000 and $200,000* respectively.
PRODUCT SUMMARY DIRECT Whole Life (DWRA) 1. Policy Description DIRECT Whole Life is a participating, regular premium whole life insurance plan that provides financial protection against Death, Total &
More informationProtecting Your Assets and Lifestyle: A Critical Illness Insurance Review
Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review If a serious illness strikes, how will you protect your assets and lifestyle from financial hardship? Prepared for: Your Client
More informationCritical Illness Protection. Introducing our new standalone CI product AUGUST 2014
Critical Illness Protection Introducing our new standalone CI product AUGUST 2014 Critical Illness Protection A BROADER SPECTRUM OF COVERAGE 2 What we ll cover 1 The new kid in town Critical Illness Protection
More informationWe understand that you would want multiple coverage against critical illnesses
PROTECT Enhanced We understand that you would want multiple coverage against critical illnesses PRUmultiple crisis cover Medical advancements over the years have led to better survival and recovery rates
More informationB1.03: TERM ASSURANCE
B1.03: TERM ASSURANCE SYLLABUS Term assurance Increasing term assurance Decreasing term assurance Mortgage protection Renewable and convertible term assurance Pension term assurance Tax treatment Family
More informationHome Certainty Policy Specs
Home Certainty Home Certainty Policy Specs Simplified issue / Non-Med Term Life Insurance 15, 20, 25 & 30 year term periods to choose from Premiums are guaranteed for the full term period Available with
More informationHow to Avoid Overpaying For Your:
How to Avoid Overpaying For Your: Mortgage Life Insurance and Mortgage Critical Illness Insurance By: Terry Bialek Congratulations! You ve just bought a new house or condominium and you ve arranged a mortgage
More informationDoes smoking impact your mortality?
An estimated 25% of the medically underwritten, assured population can be classified as smokers Does smoking impact your mortality? Introduction Your smoking habits influence the premium that you pay for
More information