A LIFE Foundation Report
Before an insurance company can issue a life insurance policy, it must first evaluate how much of a risk the person applying for coverage will be to insure. In a nutshell, the company wants to know, based on medical and non-medical factors, when the candidate is likely to die, so that it can price the insurance accordingly.
Assessing a person’s risk is part of a complex process known as “underwriting.” While the term may be familiar to many, LIFE’s research shows that the general population has little understanding of what goes into the underwriting process.
This report is intended to shed light on the factors that determine risk and premium pricing and why the process is necessary. The report also looks at the impact advances in medical testing and information has had on pricing and options for the insurance-buying public.
You can view the report in its entirety by clicking the image to the right or by clicking here. If you have questions, contact Jim Edwards, LIFE’s Vice President of Communications, at jedwards@lifehappens.org.
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