Underwriting

[sharpy]

There is no underwriting and no limitaiton on issue for the products beyond age (i.e. no sale to dogs 11 years and older)

What does this mean?

[tomorrow never knows]

Originally Posted by sharpy

There is no underwriting and no limitaiton on issue for the products beyond age (i.e. no sale to dogs 11 years and older)

What does this mean?

Sometimes products are sold on a guaranteed issue basis, which means no underwriting is required. Since the company cannot assess the health of policyholders, they impose issue limitations (i.e. max face amount of 50,000). The statement above says that even without underwriting the only limitation is the age of the applicant, where the maximum issue age is 10 years.

[sharpy]

if "limitation"stands for "face amount limitation", that means when policy renews at age greater 10, face amount can be increased to any amount you want, because of no face amount limitation.

if "limitation" stands for "age limitation", that just means policy can renew for whole life, because of no age limitation.

Probably yours is the second meaning.