Mike Armstrong's Profile
Biography
This person does not have a biography.
Mike Armstrong's articles
Several myths relate in one way or another to discussions about genetic information and life insurance. The first deals with the linkage between the terms "genetics" and "heredity."
Posted: 2009-01-15
Category: Insurance
Insurers have used broadly defined genetic information in underwriting for life insurance. Applications for life insurance policies commonly seek information on family history, cholesterol level, hypertension, coronary heart disease, cancer, diabetes, and much other impairment that may have a genetic basis, which is inherited, acquired, or both.
Posted: 2009-01-15
Category: Insurance
The process of forming contracts depends, of course, on the nature and relationship of the contracting parties. Voluntary individual insurance, under which contracts designed by insurers without significant constraint are offered to the public, is only one of several relationship structures that could be employed.
Posted: 2009-01-15
Category: Insurance
Life insurance is a financial product. People buy it to protect their future financial security and to protect their dependents against financial hardship when they die. Many life insurance products also allow policy holders to accumulate savings that can be used in time of financial need.
Posted: 2009-01-15
Category: Insurance
A major policy question for possible regulation of the use of genetic information in life insurance is whether access to life insurance should be considered an economic issue or a civil rights issue. If the former, insurance companies should be given wide latitude in deciding what information to consider in underwriting.
Posted: 2009-01-15
Category: Insurance
Elected officials, executives of the life insurance industry, academics, consumer advocates, and numerous other individuals have begun searching for an appropriate response to the issue of genetic information and life insurance underwriting. We attempted to identify public opinion about various policy options.
Posted: 2009-01-15
Category: Insurance
Although little documented evidence of adverse treatment of individuals in employment, health insurance or life insurance exists to date, concern about discrimination is widespread. Such concern should not be dismissed as irrational and unworthy of consideration for two important reasons.
Posted: 2009-01-15
Category: Insurance
The greatest threat to risk-based life insurance of any type is adverse selection, defined as the likelihood that those who know they are at increased risk will be more likely to purchase life insurance and in greater amounts than those who lack such knowledge or know they are at decreased risk.
Posted: 2009-01-15
Category: Insurance
The question has two interesting elements. First, it asked who should be able to see the information. Although it did not ask whether insurance companies, for example, should be able to use results of the genetic tests in deciding coverage or rates, a likely interpretation by many respondents was that having access to the information could lead to some (possibly adverse) action.
Posted: 2009-01-13
Category: Insurance
When the Human Genome Project officially began in 1990, the first social concern to generate widespread interest was the possibility that health insurance companies would use predictive genetic information to charge individuals higher rates or to exclude them from coverage.
Posted: 2009-01-13
Category: Insurance
We live in a world where the future is unpredictable. We cannot take the chance and simply say that nothing can happen to us. Life is so precious and certainly not a thing to gamble with. Surveys show that someone is more likely to suffer from a critical illness than to die before reaching the age of 65.
Posted: 2008-09-09
Category: Insurance
Arguably, the biggest wealth that someone can have is staying in good health. Sound health conditions open up chances to achieve many things in life. But you should realise the fact that anyone may contract a critical illness at any time in his lifetime.
Posted: 2008-09-09
Category: Insurance
Every year, around 700,000 people may be affected by a critical illness such as stroke. On the other hand, heart attack may make approximately 340,000 victims while around 1 million may be diagnosed by a critical illness like cancer. If you have term critical illness cover, then you may have enough financial backing to pay for your treatment.
Posted: 2008-09-09
Category: Insurance
Critical illness insurance made its first apparition in South Africa in 1983 and was known as dread disease insurance or serious illness insurance. Before 1983, policies having the name cancer policy may have been sold in the USA providing cover for certain types of cancer.
Posted: 2008-09-09
Category: Insurance
Critical insurance has become one of the most rapidly growing forms of insurance available today. According to tiscali.money, over 1 million of critical insurance policies may have been sold in the UK in the year 2002. Critical insurance was developed as medical improvements enabled people to survive a critical illness that could not have been treated long ago.
Posted: 2008-09-09
Category: Insurance
