What is the difference between insurance and underwriting? What does insurance coverage mean

The conclusion of an insurance contract goes through two stages: offer and acceptance, also known as insurance and underwriting.

1. Insurance refers to the intention of the policyholder to the insurer to conclude an insurance contract, generally by filling in the insurance company in advance, the insurance can be handed over to the insurer or its first person.

2. In addition to the application form, the insurer will also require the policyholder to provide some other documents or fill in some other information, such as health certificates in life insurance, financial reports in property insurance, and consultation forms to inform truthfully.

3. Underwriting means that the insurer agrees to the insurance offer put forward by the policyholder, does not make substantial changes to the insurance requirements, and the insurance contract is declared established after the insurer underwrites the insurance. After the insurance contract is concluded, the insurer shall issue an insurance policy or other insurance certificate to the policyholder in a timely manner.

To apply for insurance is to buy insurance, and underwriting is to accept the insurance business of the insured.

Insurance underwriting refers to the act of the insurer agreeing to accept the policyholder's application and assuming the insurance liability stipulated in the policy contract after the insurer submits a request for insurance.

In the process of property insurance underwriting, it is necessary to conduct key risk analysis and assessment of some factors, and conduct on-site investigations, and the main underwriting elements are the subject matter of insurance.

The environment, the nature of the occupation of the insured property, the main risks and hidden dangers of the subject matter of the insurance, the key protective parts and the status of protective measures, and whether there is a property type grinding in a dangerous state.

To judge whether an insurance contract is effective or not, it is not only based on payment and underwriting, but also in combination with the specific provisions of the insurance clause on the requirements for effectiveness. Underwriting is only a benchmark for the establishment of the insurance contract, and does not determine whether the contract is effective, only when the agreed conditions are all established, the contract will officially take effect, and the insurer will begin to bear the corresponding insurance liability in the contract.

Underwriting is an important part of insurance business, which refers to the insurer's choice of the insured, that is, the decision of the insurer to accept or reject the policyholder's insurance. It refers to the act of the insurer agreeing to accept the policyholder's application and assuming the insurance liability stipulated in the policy contract after the insurer submits a request for insurance from the policyholder.

It is an important part of insurance business, which refers to the insurer's choice of the insured, that is, the insurer's decision to accept or reject the policyholder's insurance. The basic objective of underwriting is to arrange a safe and profitable business distribution and portfolio for the insurance company.

The process by which the policyholder enters into an insurance contract with the insurer (usually the insurance company) and pays the insurance premium in accordance with the insurance contract. The policyholder, also known as the policyholder, is a person who has entered into an insurance contract with the insurer and has the obligation to pay insurance premiums in accordance with the insurance contract.

In layman's terms, let's say Tie Niu wants to buy an insurance product from Yufen Insurance Company.

Tie Niu needs to submit application materials to Yufen Insurance Company and purchase insurance. This is called insurance.

Yufen Insurance Company needs to review the information and sign the insurance contract after finally agreeing to Tieniu's application. This is called underwriting.

To put it simply, insurance is to submit application materials to the insurance company, and the insurance company will review the applicant.

Underwriting means that after the review is passed, the insurance contract takes effect.

To put it simply, insurance is to spend money to buy insurance; Underwriting is when you pay for insurance, and the insurance company checks to see if you are eligible to buy it, and if there is a purchase, it is underwriting.

Applying for insurance means that you submit an insurance application to the insurance company for the product you like.

Underwriting means that the insurance company will make a comprehensive assessment based on the information you truthfully inform, as well as your occupational category, insurance amount, etc., and decide to agree to bear the insurance liability according to the corresponding insurance premium!!

To put it simply, insurance is an individual purchasing insurance from an insurance company; Underwriting is when the insurance company assumes the insurance liability of the individual after purchasing the insurance.

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There are 5 basic principles of insurance.

1. Plan first, then product

Before buying insurance, there is no reasonable planning based on family situationWhen the risk occurs, the insurance purchased not only cannot resist the economic pressure brought by the risk, but also continues to payAt this time, this insurance has become a burden on the family.

2. Guarantee first, then manage money

"The surname of insurance is Bao", which means that insurance should return to the essence of protection, so when buying insurance, you must protect it first and then manage your finances.

People are more expensive than anything else, and you must protect people first, and then talk about money.

3. The sum insured first, then the premium

It is a misunderstanding that buying insurance is "cheap", and insurance is a leverage tool to resist risks.

At present, the average cost of cancer is about 300,000 yuan, and it will cost more than 100,000 yuan to buy a car. The most important thing when buying insurance is that the higher the leverage, the better, that is, the lower the amount of money you can get, the better you can get.

4. The property of the deceased

Accidents are everywhereMany people are too weak to take action on their own health protection, and always prevaricate and postpone the purchase for various reasons, but accidents and illnesses can come at any time, and when they happen, they can only regret it.

5. Adults first and then children

We need to learn to use mature financial tools to strip away financial responsibilities and focus more purely on family emotions.

Normally, the pillars of a family are always shouldering three generations and three social roles: parents, you and your wife, and children.

If the child is in danger, the parents still have a choice, but once you are in danger, the child is not able to bear your share of responsibility. Only when adults are protected first can children be better protected.

What is the difference between critical illness insurance, medical insurance, accident insurance, and life insurance? Will there be a conflict when making a claim?

To put it simply, insurance is all about.

The insurance company submits the application materials, and the insurance company reviews the applicant.

Underwriting means that after the review is passed, the insurance contract takes effect.

Insurance underwriting is the process by which the insurer reviews the insurance application submitted by the unit or individual (i.e., the policyholder) who is willing to buy insurance, and makes a decision on whether to accept it and how to accept it.

It can be said that the whole process of signing an insurance contract, such as the invitation, commitment, verification, and subscription of insurance business, belongs to the underwriting business.

In fact, entering the underwriting link is entering the stage of substantive negotiation between the parties to the insurance contract on the terms of the insurance.

Main links and procedures.

1) Underwriting. 2) Make underwriting decisions.

1. Normal underwriting. For insurance subjects that fall under the standard risk category, the insurance company underwrites them at the standard rate.

2. Preferential underwriting. For insurance subjects that fall under the high-quality risk category, the insurance company will underwrite at a preferential rate lower than the standard rate.

3. Conditional underwriting. For the subject matter of insurance that is lower than the normal underwriting standard but does not constitute a condition for refusal of insurance, the insurance company underwrites it by adding restrictive conditions or imposing additional fees.

4. Refusal of insurance. If the policyholder's insurance conditions are significantly lower than the underwriting standard, the insurer will refuse to insure.

3) Preparation of documents.

4) Review the signature.

5) Collect premiums.