Question

What is the primary purpose of gathering information for underwriting in insurance?

a.

To ensure that all risks are equal

b.

To set equal premiums for all policyholders

c.

To assess risks accurately and determine suitable premiums

d.

To maintain business sustainability

Posted under IC38 Life Insurance Agent Exam

Answer: (c).To assess risks accurately and determine suitable premiums Explanation:Gathering information for underwriting helps assess risks accurately and determine appropriate premiums based on the likelihood of loss occurrence and severity.

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Q. What is the primary purpose of gathering information for underwriting in insurance?
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