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Life Insurance Underwriting Process

Life insurance underwriting is the process of evaluating the level of risk an applicant for coverage may pose to the insurance company. There are several things that an insurance underwriter will typically review, including: lifestyle, health, and motor vehicle history. The underwriting process is subjective and can take between two and six months to complete.

Step 1: Informal underwriting and pre-qualification

Medical records are ordered based on the information provided on your signed HIPAA authorization. You will also complete a physical exam conducted by a licensed medical professional at your home or office. Some carriers may waive the exam for younger, healthier insureds.

Results from your exam combined with your medical records will allow the carriers to determine your
insurability and offer an initial health rating. This could help narrow down your options to carriers who
feel you are the healthiest.

Step 2: Formal application and additional requirements

You will then complete and sign the selected carrier’s life insurance application. Upon receipt, the carrier may also require additional information.