Underwriting
The insurer’s assessment of your application before the policy is issued.
Definition
Underwriting is how the insurer decides whether to accept your application, at what premium, and with which exclusions. It typically involves health questions, sometimes medical exams or blood tests, and review of family medical history and occupation. Possible outcomes: standard acceptance, premium loading, specific exclusions, deferred decision, or decline.
Related topic comparisons
See also
- Premium loading — An extra charge added to your premium because underwriting identified higher-than-standard risk.
- Exclusion — A specific event or condition the policy will not pay out for.
- Pre-existing condition — A health condition you had (or had symptoms of, or sought treatment for) before the policy started.
Not personalised financial advice. Definitions are editorial framings of how the term is used across NZ life cover. Your specific policy wording is the authoritative source.