We think you should understand what you buy.
So what is underwriting anyway?
Perhaps the best way to answer that is to consider the following...
- Two people are looking to buy a R1 million’s life insurance.
- The insurance company offers each of them the cover at R500 a month
- One person is in perfect health, one is not
- One of them works in an office , the other works with explosives
- One of them takes leisurely walks on the beach to stay in shape, the other is a skydiver
Question is: “Which of the two is getting the better deal?”
Rather than a “one size fits all” approach, underwritten life insu...read more »