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Saturday, May 29, 2010
Friday, May 28, 2010
Saturday, May 22, 2010
What Is Life Insurance Underwriting?
A life insurance policy is a legal contract between you and an insurance company. If you die while coverage is still in force, the insurance company is obligated to pay your beneficiaries a predefined sum of money based on the provisions of your agreement.
It is not surprising that carriers will go to great lengths to evaluate you before committing to providing you with coverage. The process that insurance companies take to determine the level of financial risk you pose is generically referred to as “underwriting.”
Many factors are considered and evaluated during the underwriting process, which varies from one company to the next, as well as with different policy types and coverage amounts.
It is not surprising that carriers will go to great lengths to evaluate you before committing to providing you with coverage. The process that insurance companies take to determine the level of financial risk you pose is generically referred to as “underwriting.”
Many factors are considered and evaluated during the underwriting process, which varies from one company to the next, as well as with different policy types and coverage amounts.