III IC-22 Practice Questions - III IC-22 Life Insurance Underwriting Exam

Which of the following best describes the principle of "equity" in life insurance underwriting?

Charging premiums that are proportional to the risk brought to the pool by the insured. Offering identical premium rates to all applicants regardless of their health status to maintain equality. Restricting policies to only those individuals who have no medical conditions. Giving premium discounts based on the social status or net worth of the proposer.

Correct Answer:

Charging premiums that are proportional to the risk brought to the pool by the insured.

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