What are some factors that underwriters consider when evaluating a life insurance application? Which, if any, apply to you or your family members?
Life insurance underwriting begins by asking potential insureds to complete an application designed to gather information about their risk potential. In other words, underwriters consider the likelihood that the insured will die while the life insurance policy is in effect. Underwriters use life expectancy figures to look at overall longevity for various age groups. They also consider specific factors related to the applicant's health. Someone who smokes, is obese, has a history of heart disease, or has a dangerous job or hobby is considered a greater risk than someone who doesn't. Applicants who have been charged with driving under the influence of drugs or alcohol or who have had their driver's license suspended may also be viewed as riskier.
You might also like to view...
Proper segregation of duties requires that the responsibility approving a payment be separated from posting to the cash disbursements journal
Indicate whether the statement is true or false
PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ________
A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept
Jorge totals his car and spends two days recuperating in the hospital. After he gets out, he knows he needs a new vehicle. Jorge's old car was a Volvo that he loved. There is no Volvo dealership in his city. Although there are many less expensive vehicles to purchase, Jorge convinces his friend to drive more than 50 miles to a much larger city so that he can purchase a new Volvo. For Jorge the hospital stay was a(n) ______________ product, while his purchase of the Volvo is a ______________ product.
A. unsought; convenience B. shopping; specialty C. convenience; shopping D. unsought; shopping E. specialty; specialty
Hydraulic Leasing Corporation (HLC) and Dockside Offloading Company enter into a contract for a lease of ten hydraulic lifts. Under the perfect tender rule, HLC must ship or tender goods to the lessee that
A. approximately conform to the contract description. B. entirely conform to the contract description in most ways. C. conform to the contract description in every way. D. substantially conform to the contract description.