Q. What factors do underwriters consider when assessing the risk associated with an individual?

View solution

Q. What is the rationale behind requiring underwriting decisions to be backed by supporting documentation?

View solution

Q. What is the reason for declining coverage for an individual with severe medical conditions?

View solution

Q. What is the purpose of postponing life insurance offers for individuals with initial high-risk period?

View solution

Q. How long can the life insurance offer be postponed for individuals with initial high-risk period?

View solution

Q. What does it mean to accept the risk with exclusion in insurance?

View solution

Q. In what situation would exclusions be used in health insurance?

View solution

Q. What happens if an individual with an exclusion clause experiences a recurrence of symptoms directly connected to the excluded risk?

View solution

Q. ___________ is the frequency with which a disease appears in a given group of people on the basis of their age. gender and occupation.

View solution

Q. What is the fundamental principle of life assurance?

View solution

Q. What is standard risk?

View solution

Q. What is sub-standard risk?

View solution

Q. Why do insurance companies differentiate between standard and sub-standard risks?

View solution

Q. What is the underwriter's role in risk assessment?

View solution

Q. What is the fundamental principle of life assurance?

View solution

Q. What are the two classifications of risk associated with an individual?

View solution

Q. If an individual is considered low risk and insurable at standard premium rates by insurance companies, what type of risk is associated with the individual?

View solution

Q. What is increasing extra risk?

View solution

Q. What is decreasing extra risk?

View solution

Q. What is constant extra risk?

View solution