Important Points for IC 27 - Health Insurance Exam
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Overseas medical insurance covers such unforeseen health related contingencies and protects the insured person from high costs of medical attention when travelling outside India.
Underwriting is the process of assessing the risk appropriately and deciding the terms on which the insurance cover is to be granted. Thus, it is a process of risk selection and risk pricing.
Health insurance is based on the concept of morbidity which is defined as the risk of a person falling ill or sick.
Underwriting is the process of risk selection and risk pricing.
Underwriting is required to strike an appropriate balance between risk and business thereby maintaining the competitiveness and yet profitability for the organisation (insurer).
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