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More people would buy life insurance if less medical testing required

A majority of U.S. adults surveyed by the two groups say their likelihood of purchase would increase if carriers would conduct 'simplified underwriting.'

By Katie Kuehner-Hebert | Updated on April 25, 2017
A majority of U.S. adults surveyed by the two groups say their likelihood of purchase would increase if carriers would conduct 'simplified underwriting.' (Photo: iStock)

More people would consider buying life insurance if they didn’t have to take a physical exam, according to the 2017 Insurance Barometer Study, jointly conducted by LIMRA in Arlington, Va. and Life Happens, a Windsor, Conn.-based educational nonprofit.

A majority (70 percent) of the 2,031 U.S. adults surveyed by the two groups say their likelihood of purchase would increase if carriers would conduct “simplified underwriting,” defined in the study as making use of publically available data for risk classification decisions for life insurance pricing, enabling purchase without requiring blood and fluids for medical testing.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

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