MTHEL131 Study Guide - Final Guide: Heart Murmur, Radiography, Life Insurance
20 Jan 2020
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Every individual who apply for life insurance will have their policy go through the underwriting process that determines whether the policy is too risky to accept. Blood test (only asked ~40% of the time because collection blood is expensive. ) People die before they reach the medium life expectancy of their age due to many things such as: > underwriting writes letter to a doctor to confirm a patient"s. > if someone gets denied by a insurer, the insurer sends that information to mib so other insurers can find his records of denial. Underwriting outcomes: standard (75%) (life insurance, substandard or rated (8%, decline (17%) > higher risk but not enough to decline, so premiums are higher. > it can be removed (eg. lose 25 pounds) Insurance companies are often comfortable offering 15 to 20x the income of a person for their policy, otherwise they might have to go through financial underwriting. (eg asking for million insurance while having.
