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What is the life insurance underwriting process?

Insurance is a contract between two parties where the insurance company agrees to compensate for the loss incurred to the individual in exchange of premiums paid.


Underwriting is the process of classifying the risks and charging enough premium to insure that risk.

Standard risks consist of people who are anticipated to have a normal life expectancy.


Preferred risks consist of people who are anticipated to have a better than normal life expectancy due to various health conditions.


Substandard risks consist of people who are anticipated to have worse than normal life expectancy due to bad personal habits or health conditions.


Declined risks consist of people whose impairments & pre-existing health conditions are not good to provide insurance at reasonable cost.

Financial underwriting, alcohol & tobacco consumption and medical underwriting are other processes involved in underwriting.


It is important to get life insurance at an early age to ensure you get a decent cover with a reasonable premium.

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Underwriting is the process of assessing risk and charging premiums for life insurance policies. It involves classifying risk, non-medical underwriting and medical underwriting.

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What is the life insurance underwriting process?

Underwriting is the process of assessing risk and charging premiums for life insurance policies. It involves classifying risk, non-medical underwriting and medical underwriting.

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