Which of the following is not an underwriting factor for an individual life insurance policy? Medical...

Which of the following is not an underwriting factor for an individual life insurance policy?

Medical history of applicant

Age and sex of the applicant

Nationality of applicant

Occupation and hobbies of applicant

Expert Solution

C.Nationality of the applicant.

Nationality is not a risk factor for underwriting life insurance.

Medical history, age and sex of the applicant along with occupation and hobbies are considered as risk factors in under writing life insurance for individuals.

jeff jeffy answered 2 years ago

15. If a life insurance company accepted all application with no medical underwriting and changed all...

15. If a life insurance company accepted all application with no medical underwriting and changed all sured the same price for a 500,000 life insraucne policy and there were no exclusions other than the suide clause, what would be the most likely result? A. This company would prosper due to marketing genius B. This company would invest in high grade bonds C. This company would become insolvent due to moral hazard D. This company would become insolvent due to adverse...

Explain the underwriting policy and how it works in the insurance industry

Consider a typical individual who owns the following financial instruments: A life insurance policy for $340,000;...

Consider a typical individual who owns the following financial instruments: A life insurance policy for $340,000; a certificate of deposit for $85,000; homeowner's and auto insurance policies; $14,000 in a mutual fund, and $230,000 in her pension fund at work. Which of these are instruments used primarily as stores of value and which are being used to transfer risk?

Discuss the loss adjusting process as used in underwriting of insurance policy

An insurance company sells a $17,500, three-year term life insurance policy to an individual for $675....

An insurance company sells a $17,500, three-year term life insurance policy to an individual for $675. Find the expected return for the company if the probability the individual will live for the next three years is 0.99. (Round your answer to the nearest cent.)

An insurance company sells a $16,000, eight-year term life insurance policy to an individual for $1,620....

An insurance company sells a $16,000, eight-year term life insurance policy to an individual for $1,620. Find the expected return for the company if the probability the individual will live for the next eight years is 0.93. (Round your answer to the nearest cent.)

which of the following is/are true regarding the ownership of life insurance 1. a policy can...

which of the following is/are true regarding the ownership of life insurance 1. a policy can only be issued to the insured. 2. generally, assigning a policy requires proof that the insured is still "insurable" meaning still in good health. 3. only a person with an insurable interest, generally a relative, a business associate, or lender, can be named as a beneficiary a. 1 b. 1 and 2 c. 3 d. all of the above

Which of the following are included in the gross estate? A. Proceeds from life insurance policy...

Which of the following are included in the gross estate? A. Proceeds from life insurance policy owned by the decedent insured that was assigned to a ILIT 2 years before death of the insured B. A secular trust where the only income beneficiary was the decedent's spouse C. Property where the decedent had a reversionary interest of less than 1% of the value D. Gift taxes paid two years prior to the decedent's date of death for gifts made four...

Which of the following individuals is most likely to purchase a life insurance policy that pays...

Which of the following individuals is most likely to purchase a life insurance policy that pays out an annual income beginning at a certain age until the individual's death? Ian, who expects to have a short life expectancy because of an illness Avril, a tax attorney who wants to avoid adverse selection Alma, who expects to live a long life, based on her family history Bradley who has six young children

A 28 year old individual determines that they need a $500,000 life insurance policy, would like...

A 28 year old individual determines that they need a $500,000 life insurance policy, would like a savings component of the same, and be able to retire at age 67. Should the individual choose a whole life or term policy? Describe the key features of both policies and why and how you reached your conclusion. response should be at least 500 words

Question