Important Points for IC 22 - Life Insurance Underwriting Exam
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Riders are optional additional benefits that are offered along with the basic life insurance policy to enhance the benefits that will be payable to the policyholder.
Dating back of policy is an option available to the insured to avail the benefit of lower age, subject to certain pre-defined conditions.
In the numerical rating method, all the factors eg; personal factors, environmental factors and hereditary factors of the life to be insured are assessed for risk evaluation.
The insurance company communicates its terms of acceptance to the life insured via FPR or a welcome letter.
Critical illness rider benefit is payable at the time of diagnosis of the illness.
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