Important Points for IC 22 - Life Insurance Underwriting Exam
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As the sum assured increases, additional income documents are required to be submitted to justify the higher cover.
The financial documents required to be submitted vary for different groups of people and business classes.
A person can have unlimited insurable interest in his own life.
In the human life value method, the present value of the future earning potential of an individual is used as a yardstick to calculate how much insurance cover an individual should take.
For an insurance policy effected under the MWP Act, the beneficiary can be : wife alone; or one or more children (both natural and adopted); or wife and one or more children jointly
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