What is underwriting and why is it important when taking out Life Insurance?
When looking to take out life insurance you would typically compare the market in order find the best policy. However, more so with life insurance you can base your decision on the cheapest premium as most providers are selling the same product. Your decision process should be based upon the sum assured, the term of the plan and whether you require any additional benefits, for example, do you wish to include waiver of premium or total permanent disability. All of these factors will also guide you to the most appropriate provider based on their underwriting criteria.
Related Questions
- Credit life insurance is frequently recommended in conjunction with the taking out of an installment loan when purchasing expensive appliances or a new car, or for debt consolidation. Is credit life insurance a good buy?
- What is underwriting and why is it important when taking out Life Insurance?
- What is Life Insurance Underwriting?
