An individual is insurable if he or she is able to obtain life insurance under the insurance company's underwriting criteria Insurability is usually based upon the individual's age, health, occupation and lifestyle
an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in the preservation of the thing that is insured
Insurability refers to the assessment of the applicant's health and is used to gauge the level of risk the insurer would potentially take by underwriting a policy, and therefore the premium it must charge
the quality of being insurable; the conditions under which an insurance company will issue insurance to an applicant (based on standards set by the insurance company)
The qualifications of age, health, occupation, etc , which enable the proposed insured to meet the requirements of a company for the issuance of insurance
In life and health insurance, all conditions pertaining to an individual that affect his or her health, susceptibility to injury, as well as life expectancy These factors are considered in determining the amount of risk If the risk is too high, the insurance company will refuse coverage, as the individual is considered to be uninsurable by that company's underwriting standards
All conditions pertaining to individuals that affect their health, susceptibility to injury and life expectancy; an individual's risk profile Insurance: A formal social device for reducing risk by transferring the risks of several individual entities to an insurer The insurer agrees, for a consideration, to pay for the loss in the amount specified in the contract Insurer: Party that provides insurance coverage, typically through a contract of insurance Irrevocable Beneficiary: A beneficiary that cannot be changed without that beneficiary's consent