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Underwriting process calls for the applicant to be able to prove an insurable interest?
Wiki User
∙ 12y ago
At the time of Application
Wiki User
∙ 12y ago
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Which step are involved in mortgage process?
The steps involved in the mortgage process include Pre-Approval., Full Application, Submitted to Processing, Submission to Underwriting, and Underwriting.
What is Underwriting?
It is the process of reveiwing your application for life insurance and applying the appropriate rating based on your qualifications.
What is A process where interest is paid on interest?
it's called compound interest
What is credit evaluation?
Credit evaluation is synonymous with underwiting (the process used to determine if a particular entity/individual is creditworthy) insomuch as the entire underwriting process is driven by core credit decisioning.
Importance of selection process in HRM?
it increases the level of productivity in an organization for the best applicant are chosen for the suitable job.
Is it possible for girlfriend to use the same life insurance co that she has a policy with in order to skip the underwriting process and gain HUGE bucks on your life?
I assume that you're wondering if she can get a policy on your life as your girlfriend behind your back. No, she can't, she has no insurable interest, such as a wife or parent would and she would need your signature in order to buy the insurance on you. This does not mean that you cannot allow her to pay for life insurance on you and you can name her as beneficiary if you choose. You can just say she is your fiance and that will suffice as insurable interest. She could also buy life insurance on you, forge your signature and make the payments herself all without your knowledge and of course all illegal. But it would not be for big bucks or it would require full underwriting which would include a paramed exam at the very least.
Which step are involved in mortgage process?
The steps involved in the mortgage process include Pre-Approval., Full Application, Submitted to Processing, Submission to Underwriting, and Underwriting.
What is an under writer?
Underwriting refers to a process that is offered by banks and investment houses. Underwriting is the process that assesses if a customer is eligible for products, including a mortgage or insurance.
Why is the job application process often frustrating for the job applicants?
The employer may not hire the job applicant even if the applicant if the applicant is qualified for the job.
What is Underwriting?
It is the process of reveiwing your application for life insurance and applying the appropriate rating based on your qualifications.
What is the document that involves the security clearance process for the applicant?
SF 86, Questionnaire for National Security Positions, is the document that involves the security clearance process for an applicant.
What is numerical rating method in life assurance underwriting?
Numerical rating method of Underwriting is a method used in classifying applicants for life insurance according to certain demographic factors and assigning weights to these factors. Factors include physical condition, build, family history, personal history, habits, and morals. For example, if an applicant is 5 feet 8 inches and weighs 250 pounds, his mortality expectation based on this height-weight ratio may be 160% of a standard risk who weighs 150 pounds at that height. In this instance a debit of 60 percentage points would be listed next to the weight factor on the applicant's underwriting sheet. If the applicant has an excellent family history (no hereditary diseases such as diabetes), his mortality expectation based on this factor is 90% of the standard risk. Here a credit of 10 percentage points would be listed next to the family history factor. Upon completion of the debiting/crediting process, debits and credits would be totaled for a final rate, which would classify the applicant as standard, substandard, or an uninsurable risk.
The document that involves the security clearance process for the applicant is the?
SF 86
What is involved in the networking strategy?
The applicant meets with employers who are not in the hiring process.
When does underwriting process occur?
It takes place when someone reviews the complete loan application package and decides whether to approve it.
When does the underwriting process occur?
It takes place when someone reviews the complete loan application package and decides whether to approve it.
What is A process where interest is paid on interest?
it's called compound interest
