Important Points for IC 22 - Life Insurance Underwriting Exam

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  • The HLV method takes into account the present value of future earning potential of an individual to calculate how much insurance cover he should take.
  • The Married Women Property Act was passed in 1874.
  • For an insurance policy affected under the MWP Act, the beneficiaries can be natural or adopted children.
  • Individuals who are employed in ?high risk occupations? are considered to be at greater assurance risk.
  • Underwriters need to assess this extra exposure of individuals with respect to their occupations. For this, an underwriter needs to collect information on : details of occupation, nature of duties, activities performed etc.

Life Insurance Underwriting

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