Hostname: page-component-cd9895bd7-lnqnp Total loading time: 0 Render date: 2024-12-23T12:33:03.815Z Has data issue: false hasContentIssue false

Numerical System of Rating

Published online by Cambridge University Press:  27 November 2014

Get access

Extract

In considering the question as to whether an assurance can be granted to a particular proposer, the Chief Medical Officer and the Actuary of the Company have available the Medical and other reports of the life proposed. From the information given in those reports they have to form an opinion as to the present state of health and likelihood of longevity, taking into account all the factors before them. In some cases it does not require a doctor nor yet an actuary to decide that the policy can be issued at ordinary rates, but in other cases there will be some degree of impairment, varying from the case where a spin of the coin might be as fair a method as any, to the case which is obviously uninsurable at any rate. It is the border line cases which cause the most inconvenience. A certain proposer is slightly overweight, so we do not like the look of him, but this may be counterbalanced by favourable chest and abdominal measurements. Then, again, there may be a lack of longevity in the family history, but on the other hand he may only require a short term endowment assurance.

Type
Research Article
Copyright
Copyright © Institute of Actuaries Students' Society 1932

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)