What does ‘medical underwriting’ mean in life insurance?
Rama Rao, Guntur
Medical underwriting refers to the kind of underwriting in which the proposal for life insurance is accepted only after certain medical tests have been conducted on the life under consideration. Once the life to be assured crosses a specified age limit or if the sum under consideration is too high, a life insurance company might insist upon medical tests. Based on the outcome of these medical tests, the proposal may either be accepted or denied. The proposal may also be accepted with certain conditions.
