Underwriting Process

Part 1 of the application

General personal information about the insured

Classifications (if qualified)

Substandard, standard, preferred

Required signatures

Application must be signed by the applicant, owner if different, insured and agent (not beneficiary)

Standard

Average

Preferred

Excellent health, perfect weight for height

Adverse selection

Higher risk to the insurer

Part 2 of the application

Medical information about the insured

Agents report

Personal observations of the proposed insured by the agent that is material to the risk

Substandard

Rated

Incomplete applications

Will be returned by the underwriting department to be completed