Question
a.
The process of assessing and classifying individuals for health insurance
b.
The process of evaluating and pricing the risk associated with providing life insurance
c.
The process of selling life insurance policies to individuals
d.
The process of managing life insurance claims
Posted under IC22 Life Insurance Underwriting
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is life insurance underwriting?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. What factors are considered in the underwriting process?
View solution
Q. What is the role of underwriters in the underwriting process?
View solution
Q. What is the main goal of life insurance underwriting?
View solution
Q. What is the purpose of mortality tables in the underwriting process?
View solution
Q. What is the role of underwriters in the process of underwriting?
View solution
Q. What is the first step that an underwriter follows in life insurance underwriting?
View solution
Q. Which of the following sources can underwriters use to gather information for assessing the risk?
View solution
Q. How does the underwriter measure the level of risk associated with an individual proposal?
View solution
Q. What decision is taken if the predictive mortality does not deviate too much from that indicated in the mortality table provided by the actuaries?
View solution
Q. When can the risk be postponed?
View solution
Q. What decision is taken if the mortality risk is found to be substantially high when compared to the mortality table and is either predicted to remain static or may increase in the future?
View solution
Q. What is the purpose of underwriting in life insurance?
View solution
Q. Who are the professionals hired by insurance companies to perform underwriting?
View solution
Q. What are the sources of information that underwriters use to assess the risk associated with an individual?
View solution
Q. What is the purpose of rating the risk in life insurance underwriting?
View solution
Q. Why does the underwriter need to ensure that the premium charged to the policyholder is sufficient to cover the risk associated with the policyholder?
View solution
Q. Who performs the task of underwriting?
View solution
Q. What is the first step in life insurance underwriting?
View solution
Q. How does an underwriter measure the level of risk associated with an individual proposal?
View solution
Q. What are the ratings provided by the underwriter to individual cases in the process of rating the risk?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC22 Life Insurance Underwriting? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
