Overview
Life insurance underwriting becomes increasingly complex when evaluating risks involving large policy amounts, medical conditions, financial exposures, or specialised underwriting considerations. Sound underwriting judgment is therefore essential to ensure that risks are assessed accurately while maintaining the financial integrity of the insurer.
This course provides practical knowledge of the principles and techniques used in underwriting complex life insurance risks. Participants will develop an understanding of advanced underwriting considerations, including medical risk evaluation, financial underwriting, and the analysis of non-standard risk factors.
The programme also explores how underwriters balance risk selection with appropriate policy terms and pricing decisions when dealing with complex life insurance cases.
Who Should Enrol
This course is designed for professionals involved in life insurance underwriting and risk assessment, including:
- Life insurance underwriters and underwriting assistants
- Insurance brokers and intermediaries handling life insurance portfolios
- Insurance agents and financial advisers dealing with high-value policies
- Risk and compliance professionals in life insurance operations
- Claims professionals seeking insight into underwriting decisions
- Professionals seeking to strengthen their expertise in life insurance underwriting
What You Will Learn
Participants will gain practical knowledge and understanding of:
- Principles of advanced life insurance underwriting
- Medical underwriting considerations and risk evaluation
- Financial underwriting and assessment of policy amounts
- Non-standard risks and complex underwriting scenarios
- Underwriting decision-making and policy conditions
- Best practices for managing complex life insurance risks
Learning Pathway
This course forms part of the IIEA E-Academy Learning Pathway Framework™ for Advanced Insurance Professionals, designed to strengthen technical expertise across key areas of insurance practice.
Certification
Participants who successfully complete the course requirements will receive a Certificate of Achievement recognising their successful completion of the programme.
This course complements other life insurance programmes such as:
- Understand Life Insurance
- Selling Life Insurance
- Needs Analysis
and helps build advanced underwriting capability in life insurance risk evaluation.
Download BrochureLearning Outcomes
On completion of this course, you should be able to:-
- Identify non-routine, complex aspects of a life insurance risk
- Review and interpret risk information
- Complete and document a risk assessment in accordance with
- Organisational processes and procedures
- Explore the underwriter’s scope of authority
- Determine the appropriate approach to take regarding the risk and
- Establish terms, conditions and premium of contract.
In the course of this learning, you will need to refer to a number of resources. You can access these documents as you go through the course.
Course Outline
- 1.1: Learning Objectives
- 1.2: Learning Aids Contained in this Course
- 2.1: The role of the underwriter
- 2.2: Summary
- 2.3: The Life Insurance Code of Practice
- 2.4: Industry regulators for life insurance
- 2.5: Legal and regulatory considerations
- 2.6: Components of life insurance contracts
- 3.1: Case study: Helen’s premiums
- 3.2: Understanding medical terminology
- 3.3: Resources for understanding medical conditions
- 3.4: Summary
- 4.1: Review and interpret complex risk
- 4.2: Life risk factors
- 4.3: Summary
- 5.1: Non-standard rates
- 5.2: Non-standard exclusions and policy conditions
- 5.3: Assessing specific medical risk
- 5.4: Post-acceptance administration
- 5.5: Summary
