Question

What factors and details are an important part of evaluating the risk profile of an individual?

a.

Existing insurance and family history

b.

Lifestyle and personal and medical history

c.

Occupation and residence

d.

All of the above

Answer: (d).All of the above Explanation:Other factors and details such as the family history, lifestyle, personal and medical history, occupation, residence, moral hazard, etc. are also an important part of evaluating the risk profile of an individual. Existing insurance (including life insurance with all insurance companies) and also the one the individual has applied concurrently are also important parts of the risk-selection process.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What factors and details are an important part of evaluating the risk profile of an individual?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is body mass index (BMI)?

Q. What have medico-actuarial studies proven about the extra risk associated with being either overweight or underweight?

Q. What is the purpose of build charts and tables?

Q. What is the medical-sum-at-risk (MSAR)?

Q. What is excluded from the medical-sum-at-risk?

Q. What is the financial-sum-at-risk (FSAR)?

Q. What is the Agent's Confidential Report (ACR)?

Q. What is the purpose of determining the medical or non-medical basis of a proposal?

Q. What factors are generally considered in the norms for determining whether a proposal is to be underwritten on a medical or non-medical basis?

Q. What is BMI used for?

Q. What is the purpose of calculating the medical-sum-at-risk?

Q. What is the difference between MSAR and FSAR?

Q. What is the purpose of a pre-insurance medical examination?

Q. Who conducts the pre-insurance medical examination?

Q. What is included in a pre-insurance medical examination?

Q. Who pays for the costs of the medical tests?

Q. What are the additional questionnaires provided to clients during the pre-insurance medical examination for?

Q. What tests may be conducted during a pre-insurance medical examination?

Q. How are medical examinations carried out by insurance companies?

Q. What is the maximum time limit set by IRDA for processing life insurance proposals by insurance companies?

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!