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Chap 11: Application & Underwriting - Coggle Diagram
Chap 11: Application & Underwriting
Basic Principles
Factors
Lifestyle
Age
Financial
condition
Occupation
Place of residence
Medical History
Physical Condition
Outcome
Standard Risk
Sub-standard risk
Defer
Decline
Life Insurance
Proposal Form
Particulars of proposed
life insured
Particulars of Proposer
Only required for
third-party policies
Declaration
Client confirms declaration
of all material facts
Authorisation by client for insurer to obtain
medical history from any medical source
Client declares that is not
undischarged bankrupt
Questionnaires
Lifestyle Questionnaire
to assess AIDS risk
when SA reaches a limit (1 million)
Medical or occupational history
indicate higher risk
Medical and non-medical
proposal forms
Other sources
Attending Physician's Report
history of illnesses that LI
has suffered or is still suffering
Adviser's Report
Helps insurer detect presence of
moral and physical hazards