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Life insurance such as term life insurance is designed to protect your loved ones and other people who might depend on you for monetary support. In case you die and lose your revenue, people who are relying on your own monetary support will lose that cash flow, therefore life insurance will help cover some or all that loss depending on the policy you choose. But you’ll find situations where life insurance may be advantageous even if you have no dependents, like your own need to cover your own personal funeral costs.

You’ve submitted an application for life insurance and you’ve learned that the application is in underwriting. Underwriting is the procedure of choosing risks and classifying them based on their levels of insurability so that the appropriate rates may be assigned. The process involves rejecting of risks. Each insurance company has specific underwriting guidelines that they conform to. The details that an underwriter reviews consists of your health profile such as weight and height ratio, tobacco use, cholesterol, blood pressure level, driving record, medications, family history of cancer and heart disease, to name a few.