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The individual at an insurance company trained to evaluate risk and determine the underwriting class and financial justification of applicants.
The process insurance companies go through with each application to determine whether or not to insure an individual and, if so, what the terms, conditions, and rates will be (risk assessment). They typically examine several factors to ensure policy owners are treated equitably and not charged excessive or, conversely, inadequate rates for that insurance coverage. Special questionnaires may be required for specific avocations, travel, and health conditions.
Offer policy owners a flexible premium, adjustable death benefit (aka, face value), and cash accumulation. As cash values increase, the policy owner may make premium payments from that account, take withdrawals and loans, or cash in the policy for its current cash value.