Notes on Noncancellable Health and Accident Ratemaking [Discussion]

It goes without saying that any material on noncancellable health and accident insurance emanating from Mr. Fairbanks' Company is well worth reading. His Company and a few others have been shining examples for many years of the fact that the word "noncancellable" does not necessarily mean financial disaster. It is now hard to realize that the word "noncancellable" was still spoken in hushed tones when the two latest papers on the subject were presented in our Proceedings--those by Mr. John H. Miller, Volume XXI, and Mr. Jarvis Farley, Volume XXVII. Accordingly, now that many life insurance companies have entered the health and accident field, many of them on a noncancellable basis, his paper is particularly timely.