Answered

Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

The point at which an insurer issues a policy is known as:

Sagot :

GinnyAnswer

Final answer:

The underwriting stage in insurance is where the insurer assesses risks and determines premiums based on various factors before issuing the policy.


Explanation:

The point at which an insurer issues a policy is known as the underwriting stage. During underwriting, the insurer assesses the risks associated with providing insurance and determines the premium cost for the policyholder based on various factors.

Factors such as the individual's health history, lifestyle choices, and the type of coverage needed are considered during underwriting. For example, a person with a history of smoking may face higher premiums for life insurance due to the increased health risks associated with smoking.

Once the underwriting process is complete, the insurer issues the policy to the policyholder, outlining the terms, coverage, and premium amount agreed upon.


Learn more about Insurance underwriting here:

https://brainly.com/question/37497187


We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.