Home Life Insurance Classification of Lives in Life assurance underwriting

Classification of Lives in Life assurance underwriting

Bima Mtaani

July 6, 2020

412

Average or standard Lives: These are the category of lives whose mortality is unlikely to be heavier than that in the mortality table. These can be accepted at normal premium rates.

Under-average or substandard Lives: Cases where the mortality are likely to be heavier than that assumed in the mortality table. These are accepted at extra or additional premium rates

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