Prestige Insurance Group, Inc.

Contact Us!
Phone: (305) 969-8745
Email: info@prestigeinsurance.net

Se Habla Espanol

Prestige Insurance Group, Inc.
InsuranceAuto InsuranceHome InsuranceCommercial InsuranceLife & Health InsuranceHigh Value InsuranceSpecialty

Life Insurance

Understanding the process of underwriting is an important aspect of applying for life insurance and ensuring that you get the lowest possible rate. But what is underwriting? It’s the process of assessing your risk; in regards to life insurance, risk represents the chance of you dying earlier vs. living a long life. If you’ve applied for a home mortgage or personal loan, you’ve experienced the underwriting process (though a more financially-based version, as opposed to health-based).

During underwriting, a life insurance company will collect quite a bit of information from you, which may include you and your family’s medical history, your occupation, your driving record, tobacco/alcohol use and more. Additionally, many insurers will require you to have a medical exam to assess your current health and verify the information you’ve given.

All of the information that’s collected allows the insurer to determine the state of your health and the likelihood of your premature death. As a business, insurers prefer to insurer healthy individuals who have the highest chance of living long lives, during which they can continue paying premiums. These low-risk individuals will get a lower rate than individuals at a higher risk.

The underwriting process essentially sorts people into groups, known as rating classes, based on their risk. Everyone in your rating class will have similar risk characteristics, resulting in similar rates. Curious about your rate? Contact your independent insurance agent to begin the process today.

We’ll help you find the best deal. Call Prestige Insurance Group at (305) 969-8776 for more information on Miami life insurance.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
  • Travelers
  • Progressive
  • NFIP
  • Aflac
  • Chubb
  • Firemens Fund
  • Florida Blue
  • Foremost
  • Mercury
  • Mercury
  • MetLife
  • The Hartford
  • Prudential
  • Infinity
  • Chartis
  • National General
  • Hagerty
Our Locations
© Copyright 2018. All rights reserved. Powered by Insurance Website Builder