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.
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