Fundamentos del Seguro de VidaPregunta 377 de 716
An applicant with a significant but insurable health impairment will most likely be placed in which underwriting classification?
a.Standard
b.Guaranteed issue with no rating
c.Preferred
d.Substandard (rated)
Explicación
A substandard or 'rated' classification applies to an applicant who presents a higher-than-average risk but is still insurable; they are charged a higher (rated) premium to reflect the added risk. Preferred is reserved for the healthiest, lowest-risk applicants. Standard is for average risks. Guaranteed issue with no rating would ignore the impairment, which underwriting does not do for individually underwritten coverage. The rated premium lets the insurer cover a higher risk while keeping the pool fairly priced.
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Preguntas relacionadas de este tema
- The three primary factors an insurer uses to calculate a life insurance premium are:
- If an insurer assumes that insureds will, on average, live longer than previously expected, the mortality cost built into life insurance premiums generally:
- Under the level premium approach used in whole life, the premiums charged in the early policy years are:
- A 'preferred' risk classification is generally assigned to an applicant who:
- The chief advantage of the conversion privilege on a term policy is that the insured can:
- Whole life insurance is generally most suitable for a client who wants:
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)