What Is the Role of an Underwriter in the Life Insurance Business

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In the world of life insurance, the underwriter plays a very important role in the process. Find out about the role of an underwriter in the life insurance business with help from a personal finance expert and professional in this free video clip.

Part of the Video Series: Personal Finance & Life Insurance
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Video Transcript

Hi, this is Walter Pardo. I am managing director and founder of Wealth Financial Partners and WFP Tax Partners in Basking Ridge, New Jersey. Today, we're going to discuss what is the role of an underwriter in the life insurance business. An underwriter is the person that really is the middle man between the individual and the insurance company. He is the person that is employed, most likely by the insurance company, to make the right decision. Does this person really have a policy from us, and if he is worthy, how much is the limit that we're going to give this person? So this person really understands death and life in every regard possible. And he also understands a lot about the health documents that are available. Because traditionally when you apply for life insurance they evaluate you based on your age and your health status. And how much are you asking for. And also what's your financial and economic picture. So all these really are the main topics that are sitting on this underwriters desk that he needs to address and answer for the insurance company for that individual applying for life insurance.


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