The world population is aging and projected to grow 57% between 2015 and 2030.
The growing older age market of those 65 and older is attributed to a longer life projection, with better treatment of diseases helping extend lives.
Insurance company life underwriters are becoming an increasingly important key in underwriting these older ages. The evaluation or underwriting in this older age market is very complex. Health issues that affect mortality, as well as the physical health, mental functions, falls and fractures, injuries, laboratory findings all affect how long someone will live. The underwriter must consider all areas of risk factors and personal history, such as symptoms, medications taken, recent medical examinations and tests like colonoscopies, annual blood work and mammograms.
When underwriting the mature ages sometimes it is found that people have a poor understanding of their health and do not take their medications regularly. Also, not having a family doctor with regular follow up is a big red flag in underwriting older aged applicants.