<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
Underwriting life insurance
This is the process of assessing the proposal and deciding whether to accept the risk and the terms at which the risk should be accepted.
Each office operates their own rating scale dependent on the age of the client and the terms and type of life policy proposed. Rates are usually expressed as a rate per mille which means rate per £1,000 sum insured. These rates are based on average mortality experience for a set category of life insured. If the life to be insured shows features outside of the acceptable margins then special rates or terms will have to be applied or the risk declined.
Whilst life insurance proposals must be competed on the basis of utmost good faith, the underwriter needs to be aware of phrases that could imply areas of concern which require further investigation. The proposer may not be aware of the full medical significance of what he has been told; equally the proposer may have been deliberately vague in order to avoid additional premiums or rejection.
Below is a consideration of the procedure that is commonly used.
Procedure and forms connected with underwriting
The proposal form is the basic starting place. This form is completed by the proposer and signed by him/her. It provides the basic underwriting information and insured details and requests the life office to issue the policy concerned.
Proposal form
Usually split into three sections.
- The first section identifies the life to be insured.
- The second provides the details of the insurance contract the proposer is requesting.
- The third section gives the details of the life risk exposure.
The proposal must be signed to declare that the answers and information given are true and provide the life office with permission to approach the life insured’s doctor for information if that is required.
There will be a note reminding the insured about the obligation to provide all material facts and the resulting consequences if all material information is not provided.
An ownership of benefits section must be completed if the life policy is to be taken out on the life of another person. The life office has to be satisfied that insurable interest exists. The signature of the life insured is also requested to make cetain that they understand that although it will be their life that is insured, the benefits of the policy will be going to another person (the proposer).
next -
Proposal Procedure