How does the Life Insurance Underwriting process differ in the UK versus the US?
The US UW lifecycle starts with the application and then ends with a policy being issued (assume the same everywhere). During the process, “Requirements” or UW artifacts are collected. These include but are not limited to Lab data, Prescription data, Motor Vehicle Data, Medical records, MIB (medical database in the sky), Telephone Interviews, etc. A risk determination is made based on this info and then the policy is approved or declined. Upon approval, an applicant may be rated up for medical or lifestyle choices, increasing the premium. Anyone that can provide some insight into the process in the UK (or anywhere in Europe, Asia, Australia or Africa) would be great! Thank you.
