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Quality Product Research: Proposed rating for Osteoporosis

Introduction

We have recently renamed the “Osteoporosis” item to “Early Onset Osteoporosis” to reflect the severity-based definition that insurers use and a common limit of payment to those aged under 50 years old. 

Sub-items rating review

Osteon new

Notes

A noticeable difference is the fact that several insurers do not offer this benefit once the insured is over 50. Though osteoporosis among those younger than 50 is considered rare, a study conducted at the University of Arkansas found that it's a greater risk than most women realize. From information on 164 college-aged women, 2 percent had bone densities low enough to be considered osteoporosis, and 15 percent were low enough to be in the osteoporosis risk range. To read more on this click here. Nevertheless our previous penalty for the limitation on age was far below the level of cases that this probably removes from the claims pool. So we have increase the penalty from -10 to -75. 

This is also a great example of how our methodology, specifically the  “Amount Score” (one of four) comes into play, to highlight the different payment amounts made by insurers. Please note, Asteron Life only offers cover for Osteoporosis with their “Early Trauma Benefit” similarly with AMP products you will need to select the Plus Options. These are all available in your “Product Settings” on Quotemonster.

Your feedback

We value getting your feedback on how these wordings are being applied to claims you may be aware of. Please email any claims information you have regarding this condition.   

Doreen Dutt, Research Analyst, Quality Product Research Limited, researcher@qpresearch.co.nz

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