Tuesday, June 15, 2010
Life Insurance Underwriting Standards
Every life insurance company has its own underwriting standards
There is often a delay of several weeks, and sometimes months, between the time an insurance company receives a life insurance application and the time they it finally decides acceptance, coverage terms and price.
During those weeks or months, the carrier is “underwriting” the proposed policy, or evaluating every aspect of the applicant to analyze risk. Every life insurance company has its own internal underwriting standards, and while some carriers have specialized underwriting for certain risks or ailments, a consensus has evolved over the years, resulting in generalized standards for a large portion of the industry.
Thursday, June 03, 2010
Wednesday, June 02, 2010
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