Disability Income Insurance: The Unique Risk
该书面向寿险行业专业人士，解释个人残疾收入保险的核心概念、风险与模式，涵盖产品设计、核保、理赔及行业趋势，强调其与寿险的差异。
Disability Income Insurance: The Unique Risk, 5th ed., by Charles E. Soule, 2002, Bryn Mawr, Pa: The American College. Reviewer: Karen L. Hamilton, Appalachian State University, Boone, N.C. This book is used by The American College in its individual health insurance course, which is part of the requirements for obtaining the Chartered Life Underwriter (CLU) or Chartered Financial Consultant (ChFC) designations. The author spent 41 years in the disability insurance industry. He started as a disability income insurance underwriter. By the time he retired, he was the president and CEO of The Paul Revere Companies. The author's purpose for the text, as stated in the preface, is to explain to life insurance field and home office professionals the important concepts, risks, and patterns involved in the area of individual disability income insurance. He outlines several objectives he plans to meet in achieving his stated purpose: * to identify the unique characteristics and risks involved with individual disability income insurance * to discuss the significance of those characteristics for managers and professionals in the individual disability income insurance industry * to discuss the trends in the industry and their effect on the sales, marketing, product design, underwriting, and claims processes of individual disability income insurance * to compare the individual disability income insurance business to the individual life insurance business The author does achieve his purpose and meet his objectives in the text. His discussion begins with the historical perspective of the individual disability income insurance product, including how it developed and the evolving concerns of the industry. This is followed by a description of the product, comparing it to life insurance products. Other disability benefits, such as government disability programs, group disability insurance, and business disability insurance, are also described. The remaining chapters focus on the various functional and managerial aspects and concerns of individual disability income insurance. Marketing, selling and distributing, underwriting, handling claims, determining rates, and developing products for individual disability income insurance are each discussed. Also discussed are the legal department's role and the use of reinsurance. The text concludes with a discussion of the future of individual disability income insurance and the concerns of managing the product. Throughout the text, the author stresses several facts: * Individual disability income insurance is much more affected by stability and motivation of insureds than life insurance. * Individual disability income insurance decisions are based on less robust and a lesser amount of data than life insurance decisions. * The individual disability income insurance product and its underwriting and claims evaluation processes are much more complex than life insurance products and their underwriting and claims evaluation processes. Concerning stability and motivation, the author explains what these factors entail and addresses their effect on individual disability income insurance underwriting, claims evaluation, and product development. Stability refers to a person's job, family, financial, and community stability. Motivation concerns how willing a person is to return to work following a disabling illness or injury. These factors cause much concern to individual disability income insurance underwriters and claim examiners and to company management. …