Question

What is the overall purpose of financial underwriting in insurance?

a.

To ensure that the insured or their beneficiaries are not put in a better financial position by the occurrence of an insured event

b.

To determine the medical conditions of the individual for insurance coverage

c.

To determine the age of the individual for insurance coverage

d.

To determine the location of the individual for insurance coverage

Posted under IC22 Life Insurance Underwriting

Answer: (a).To ensure that the insured or their beneficiaries are not put in a better financial position by the occurrence of an insured event Explanation:The overall purpose of financial underwriting is to ensure that the insured or their beneficiaries are not put in a better financial position by the occurrence of an insured event.

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