Q. What is the extra mortality rate?

View solution

Q. What is the purpose of underwriting manuals in insurance and reinsurance?

View solution

Q. What are mortality rates?

View solution

Q. What is extra mortality rate or EMR?

View solution

Q. What is the concept of favourable and unfavourable factors in risk assessment?

View solution

Q. What is the value range of a standard life in risk assessment?

View solution

Q. How are credit ratings used in risk classification?

View solution

Q. What does an extra mortality rating of 100% imply?

View solution

Q. What is the final rate based on which the applicant is classified in the risk classification process?

View solution

Q. How is the total accumulation of debit and credit rounded off in the risk classification process?

View solution

Q. In the risk classification process, how are the ratings for unfavourable factors treated?

View solution

Q. What is a standard life in the risk classification process?

View solution

Q. What is the range of assessment values for an individual to be categorized as standard risk in life insurance?

View solution

Q. How is an individual categorized if their assessment value is more than 125% in the risk classification process?

View solution

Q. What does an individual having an extra mortality rating of 100% imply?

View solution

Q. What is the combined effect of unfavourable factors in the risk classification process?

View solution

Q. How is the total credit rating for extra mortality calculated for an individual with multiple unfavourable factors?

View solution

Q. What is the "combination factor" in underwriting?

View solution

Q. What are some advantages of the numerical rating system in underwriting?

View solution

Q. Why is charging a level extra premium for substandard lives throughout the term of the policy contract considered unfair for some individuals?

View solution