HSBC Life | Do health exam red flags impact your insurance underwriting?

September 2022

3 min

Health examinations have become quite common in recent years. Many people are having check-ups and getting updates on their health status as a way to prepare for the insurance underwriting process. How does a health exam report affect underwriting? What are the key factors? Read on to find out.

Are your health exam results normal or abnormal? The report summary says it all.

If you have undergone a medical check-up before applying for a medical insurance policy, knowing how to read your health exam report may be the key to a successful application. Even though a medical report is typically quite long and detailed, you can look at the key findings first by jumping to the report summary. Pay attention to the various health indicators or indices. If any of these is an abnormal value, then you should read through the details.

Abnormal values

If the report summary indicates any abnormalities, or the lab results for your blood and urine sample are shown in red or bold type or accompanied by arrows (↑/↓), that generally means the values have fallen out of the normal range, and that follow-up consultations or further tests may be necessary. As a result, your underwriting outcome may be affected.

6 possible medical insurance underwriting outcomes, based on assessment of different risks for medical and life policies

After evaluating the medical history and health exam report provided by the customer, the insurance company will determine the premium level and scope of coverage of the policy, the applicant’s eligibility for protection, etc. For medical protection plans, there are generally 6 possible underwriting outcomes:

Standard premium payable

Additional premium payable

Exclusions included

Additional premium and exclusions included

Protection deferred

Application declined

Since different protection plans offer different scopes of coverage, underwriters will assess risks from multiple angles. The underwriting outcomes for various types of policies may therefore be different. For instance, medical and life insurance plans focus on different risk factors:

Evaluating risks starts with understanding common health problems

A typical health exam covers many tests and procedures, and the combination varies from individual to individual. What test result should you look out for? Let’s start with health issues common to city-dwellers. We'll use the 3 highs as examples to illustrate the relationships between health exam results and underwriting outcomes.

^#This table is based on specific health conditions only. Each underwriting application will require the assessment of other factors, including smoking status, BMI index, possible comorbidity or other potential causes of diseases, etc.
^*The values shown are for reference only and can change due to different laboratory standards. The values shown in the relevant health exam report should prevail.

Knowing how to read the key parts of a health exam report will give you an idea as to how much protection you can expect and what different policy provisions mean, so you can plan better.

Sources:

European Society of Cardiology and European Society of Hypertension (September 2018)
Hong Kong Dietitians Association: Focus on nutrition - cholesterol diet
American Diabetes Association

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Disclaimer:

The information contained in this article is for general reference only and is not intended to constitute a recommendation or advice to any person or to be the basis for any health or financial decision. No person should act on any information in the article without seeking professional advice. HSBC Life (International) Limited ("HSBC Life") assumes no responsibility for any potential health problems or losses that such information may give rise to. Then opinions expressed are the interviewee’s own and do not represent the views of HSBC Life or HSBC Group.

All information is provided for reference only. You should not make any decision based on this article alone. If you are in doubt about any content in this booklet, you should seek independent professional advice. HSBC Life does not undertake any obligation to make available to you any further information or update the contents of this video, and such contents are subject to change at any time without notice. All information is provided for general information purposes only and does not constitute any tax, insurance and/or other advice or recommendation. Under any and all circumstances, HSBC Life and/or HSBC Group shall not be liable for any damages, losses or liabilities, including but not limited to direct or indirect, special, incidental, consequential damages, losses or liabilities, in connection with your or any third party’s use of this article or your reliance on or use of or inability to use the information contained in this article. Notwithstanding anything stated herein, HSBC Life shall have the absolute right (and discretion) to determine, amend and update its underwriting policy, procedures and requirements from time to time.

Underwriting requirement and decision will be based on actual health condition of each client that declared to us where further medical evidence maybe required. Conditions that are not included in this article will be considered individually at Underwriting’s own discretion.

Under any and all circumstances, the contents of this video shall not be reproduced in whole or in part or made available to any persons or entities.

All the information in the article is updated as of September 2022.

Issued by HSBC Life (International) Limited (Incorporated in Bermuda with limited liability)

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