The year in which this first number of "Annals of Life Insurance
Medicine" goes to press happens to be the Fiftieth Anniversary of
the Swiss Reinsurance Com pany's activity in the field of
underwriting and reassuring those risks which later became known as
"substandard lives." In retrospect, it is a far cry from the old
days when life assurance proposals were either accepted or rejected
on medical grounds to the modern principles and methods of rating
substandard cases both medically and actuarially. It can be assumed
that in the course of the last few decades solutions, or at least
approxi mate solutions sufficiently accurate for practical
purposes, have been found to most of the numerous and often rather
tricky actuarial problems relating to substandard policies,
adequate premiums and reserves. No Life Assurer to-day however can
fail to recognize that actuarial skill may only be applied to of
medical assessment. Even the lay under substandard life risks on
the basis writer certainly realizes that the medical and
statistical problems inherent in the underwriting of substandard
risks are infinitely more complex than any actuarial consequences
of a calculated or assumed extramortality. It is primarily this
basic fact which has stimulated the Swiss Reinsurance Company's
plans to intensify and develop its research work in the field of
the medical assessment of substandard lives."
General
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