{"id":34307,"date":"2026-02-26T15:03:14","date_gmt":"2026-02-26T20:03:14","guid":{"rendered":"https:\/\/silver.rbcinsurance.com\/en-ca\/?p=34307"},"modified":"2026-02-27T09:39:03","modified_gmt":"2026-02-27T14:39:03","slug":"what-is-underwriting","status":"publish","type":"post","link":"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-is-underwriting","title":{"rendered":"What is Insurance Underwriting and How Does it Work? A Guide"},"content":{"rendered":"\n<div class=\"wp-block-rbc-template-selector templateSelector template__article articleSingle\" data-template=\"article\">\n<div class=\"wp-block-group articleSingle__container tabListStickyWrapper is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero__inner is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span>\n\n\n\n<div class=\"wp-block-group articleSingle__featuredImage__group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__title__group is-layout-flow wp-block-group-is-layout-flow\"><h1 class=\"wp-block-post-title\">What is Insurance Underwriting and How Does it Work? A Guide<\/h1>\n\n\n<div class=\"wp-block-group articleSingle__date__group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-post-date\"><time datetime=\"2026-02-26T15:03:14-05:00\">February 26, 2026<\/time><\/div>\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__readTime\">13 Min Read<\/span>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__author__group is-layout-flow wp-block-group-is-layout-flow\">\n<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Avatar.webp?quality=80&w=128&h=128&crop=1\" alt=\"Lisa Jackson\">\n\n\n\n<div class=\"wp-block-group articleSingle__author__details is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"wp-block-rbc-html-element articleSingle__author__name\">Lisa Jackson<\/span>\n\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__author__designation\"><\/span>\n<\/div>\n<\/div>\n<\/div>\n\n\n<figure class=\"articleSingle__featuredImage wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/what-is-insurance-underwriting.webp?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"What is insurance underwriting\" style=\"object-fit:cover;\" srcset=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/what-is-insurance-underwriting.webp 1024w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/what-is-insurance-underwriting.webp?resize=300,200 300w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/what-is-insurance-underwriting.webp?resize=768,512 768w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/what-is-insurance-underwriting.webp?resize=412,275 412w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__container__main is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__page__nav is-layout-flow wp-block-group-is-layout-flow\">\t\t<div class=\"socials-block\">\n\t\t\t\t\t\t<p class=\"socials-block-title\">\n\t\t\tShare this article\t\t<\/p>\n\t\t<div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n\t\t\t\t\t<a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=What is Insurance Underwriting and How Does it Work? A Guide &#038;body=Hi, I thought you might be interested in this article from RBC Insurance: https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-is-underwriting\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n\t\t\t\talt=\"envelope icon\">\n\t\t\t\t<span>\n\t\t\t\tEmail\t\t\t\t<\/span>\n\t\t\t<\/a>\n\t\t<div class=\"social-button-wrapper sharing-copy-wrapper\">\n\t\t\t<button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-is-underwriting\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n\t\t\t\talt=\"copy icon\">\n\t\t\t<span id=\"sharing-copyUrl-Label\">\n\t\t\t\tCopy URL\t\t\t<\/span>\n\t\t\t<\/button>\n\t\t\t<input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n\t\t<\/div>\n\t<\/div>\n  \t\t<\/div>\t\n\t\t\n\n\n<div class=\"wp-block-rbc-tabs-list tabsList\" data-switch=\"lgBp\" data-target-heading=\"h2\"><p class=\"tabsList__heading\">On this page<\/p><div class=\"tabsList__wrapper\"><button class=\"selectDropdown__button\" aria-haspopup=\"listbox\" aria-expanded=\"false\"><span class=\"selectDropdown__title\">What is insurance underwriting and why does it matter?<\/span><span class=\"selectDropdown__chevron\"><\/span><\/button><ul class=\"tabsList__items selectDropdown__list\"><li class=\"selectDropdown__list__item tabsList__item selected\"><a href=\"#h-what-is-insurance-underwriting-and-why-does-it-matter\">What is insurance underwriting and why does it matter?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-what-does-a-life-insurance-underwriter-do\">What does a life insurance underwriter do?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-what-factors-do-underwriters-consider\">What factors do underwriters consider?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-how-does-the-process-of-underwriting-work\">How does the process of underwriting work?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-what-information-is-required-for-underwriting\">What information is required for underwriting?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-what-are-the-outcomes-of-underwriting-for-life-insurance\">What are the outcomes of underwriting for life insurance?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-take-the-next-step\">Take the next step<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-faqs-about-insurance-underwriting\">FAQs about insurance underwriting<\/a><\/li><\/ul><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__content__main tabListHeadings is-layout-flow wp-block-group-is-layout-flow\">\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner \" style=\"border-radius:0x\">\n<p>Back in the day, applying for life insurance meant filling out forms and waiting weeks for an answer. Today, technology has changed that. Now, life insurance applications can be approved quickly \u2014 sometimes even the same day. In other cases, there may be a short period of review.<\/p>\n\n\n\n<p>But that doesn\u2019t mean your application is stuck in a queue. Behind the scenes, underwriters are reviewing your information to understand your situation and assess risk. From the outside, it can feel mysterious, but the process is careful and methodical, designed to make decisions consistent and pricing fair.<\/p>\n\n\n\n<p>\u201cUnderwriting is how we decide whether we can accept someone for insurance and what their premium will be,\u201d says Kristine Fogarty, Chief Underwriting Officer at RBC Insurance. \u201cWe\u2019re looking at health, lifestyle, and other factors to make sure coverage is priced fairly and works the way it should.\u201d<\/p>\n\n\n\n<p>This guide breaks down what is underwriting in insurance, how the underwriting process works, and what you can expect at each step.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-takeaways\">Key takeaways<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Underwriting is how insurers assess risk<\/strong>. It\u2019s the process used to decide whether you\u2019re eligible for life insurance, how much coverage you can get, and what you\u2019ll pay.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Technology has sped up many approvals<\/strong>. Some life insurance applications are approved quickly \u2014 sometimes even the same day \u2014 while more complex cases may require additional review.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Underwriters look at the full picture<\/strong>. Age, sex, health history, lifestyle habits, occupation, financial information, and existing coverage all help determine risk and pricing.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>A \u201cno\u201d isn\u2019t always permanent<\/strong>. Applications can be postponed or declined for timing or stability reasons, but other insurers or product options may still be available.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The goal of underwriting is fairness and long-term stability<\/strong>. Careful underwriting helps keep life insurance premiums reasonable and ensures coverage works as intended when it\u2019s needed most.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-insurance-underwriting-and-why-does-it-matter\">What is insurance underwriting and why does it matter?<\/h2>\n\n\n\n<p>Underwriting is the process insurers use to assess risk when you apply for life insurance, or other types of insurance products. In practical terms, it determines whether you\u2019re eligible for coverage, how much coverage you can get, and what you\u2019ll pay.<\/p>\n\n\n\n<p>For life insurance, underwriters evaluate factors such as your health, lifestyle, age, and occupation to estimate the likelihood of a claim and price coverage accordingly. However, the process isn\u2019t the same as buying a product off a shelf.<\/p>\n\n\n\n<p>\u201cIt\u2019s not like buying a coffee maker in a store, where the same model is sold to anyone,\u201d says Fogarty. \u201cUnderwriters look at whether the product is suitable for you and how it should be priced.\u201d<\/p>\n\n\n\n<p>So why does underwriting matter? Because it helps keep life insurance premiums fair and stable. When risk is assessed carefully and pricing reflects individual circumstances, premiums are more likely to be affordable for everyone.<\/p>\n\n\n\n<p>Underwriting also supports an efficient claims process. Reviewing and accurately disclosing your information upfront helps make your claims process go smoother later on.<\/p>\n\n\n\n<p>\u201cYou want to make sure what\u2019s disclosed matches your records \u2014 no surprises,\u201d says Fogarty. Underwriting isn\u2019t about creating obstacles. It\u2019s about getting the details right, so life insurance does what it\u2019s meant to do \u2014 provide protection when it\u2019s needed most.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-a-life-insurance-underwriter-do\">What does a life insurance underwriter do?<\/h2>\n\n\n\n<p>A life insurance underwriter reviews applications to determine whether coverage can be offered \u2014 and under what terms.<\/p>\n\n\n\n<p>In practice, that may involve:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Approving coverage as applied for<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Adjusting pricing based on risk<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Requesting additional information<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Postponing or declining coverage<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>At its core, underwriters assess risk \u2014 and the job requires careful analysis, not simply ticking boxes on a checklist.<\/p>\n\n\n\n<p>\u201cAn underwriter must have very strong medical knowledge,\u201d says Fogarty. \u201cIf you have a medical impairment, we may need to delve deeper. What type of medication are you taking? Do you have complications? Is the condition stable?\u201d<\/p>\n\n\n\n<p>Decisions are based on facts. Underwriters rely on medical guidelines and actuarial data built on long-term health trends. When needed, they may request medical records before making a final decision. <\/p>\n\n\n\n<p>\u201cAs Chief Underwriting Officer, my team sets the policies and practices for people who apply for life insurance,\u201d Fogarty explains. \u201cThese guidelines help ensure decisions are consistent, premiums are set appropriately, and consumers are treated fairly.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-factors-do-underwriters-consider\">What factors do underwriters consider?<\/h2>\n\n\n\n<p>When you apply for life insurance, underwriters don\u2019t look at just one thing. They examine at a combination of personal, medical, lifestyle, and financial factors to assess risk and set pricing fairly.<\/p>\n\n\n\n<p>Here\u2019s what typically comes into play:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-age\">Age<\/h3>\n\n\n\n<p>As we age, the likelihood of health events increases \u2014 and premiums generally reflect that.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-sex\">Sex<\/h3>\n\n\n\n<p>On average, <a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/260109\/dq260109b-eng.htm\" target=\"_blank\" data-dig-id=\"LP-LifeInsurance-34307-50078aa2\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"women live longer than men\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\" rel=\"noreferrer noopener\">women live longer than men<\/a>. Because life expectancy data influences pricing, females often pay lower premiums for the same coverage.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-overall-health\">Overall health<\/h3>\n\n\n\n<p>Your current health matters. So does your medical history. Underwriters consider conditions, medications, weight, blood pressure, cholesterol levels, and how well issues are managed.<\/p>\n\n\n\n<p>\u201cWe ask you medical questions so we can understand your overall health,\u201d says Fogarty. \u201cIs there something that requires a higher premium \u2014 a slight surcharge \u2014 or additional review?\u201d<\/p>\n\n\n\n<p>In general, Canadians in good health tend to qualify for lower premiums than those with significant or unstable medical conditions. But having a health condition doesn\u2019t automatically mean you won\u2019t qualify.<\/p>\n\n\n\n<p>\u201cNot everyone\u2019s in perfect health,\u201d says Fogarty. \u201cPeople do have health conditions. It depends on what it is and how it\u2019s managed.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-family-medical-history\">Family medical history<\/h3>\n\n\n\n<p>Certain illnesses can run in families. A history of conditions such as heart disease or cancer in close relatives may be considered.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-smoking-vaping-tobacco-use-or-substance-use\">Smoking, vaping, tobacco use, or substance use<\/h3>\n\n\n\n<p>Tobacco use significantly affects long-term health risk. \u201cActuaries price smokers at a higher rate than non-smokers,\u201d says Fogarty. Some insurers may offer lower premiums after a period of being nicotine-free (often 12 months). However, nicotine products, including many cessation aids, may still count as tobacco use.<\/p>\n\n\n\n<p>Alcohol or substance use \u2014 including frequency and related health impacts \u2014 may also influence an assessment.<\/p>\n\n\n\n<p>Learn more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/life-insurance-for-smokers\/\" data-dig-id=\"LP-LifeInsurance-34307-b75042bc\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Life insurance for smokers\" class=\"rbc-link-format\">Life insurance for smokers<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-hobbies-activities\">Hobbies\/activities<\/h3>\n\n\n\n<p>Extreme recreational activities, like some types of backcountry skiing or bungee jumping, can also factor into underwriting decisions. \u201cWe ask about extreme sports,\u201d Fogarty says. \u201cIt doesn\u2019t mean you\u2019re uninsurable, but we need to understand the level of risk.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-policy-type-and-coverage-amount\">Policy type and coverage amount<\/h3>\n\n\n\n<p>The type of policy \u2014 <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/term-life-vs-permanent-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-34307-870dee9e\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"term or permanent\" class=\"rbc-link-format\">term or permanent<\/a> \u2014 and the amount of coverage can also affect pricing. \u201cIt depends on the type of product you apply for and the face amount,\u201d Fogarty notes.<\/p>\n\n\n\n<p><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-34307-727ec1da\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Term life insurance\" class=\"rbc-link-format\">Term life insurance<\/a> generally costs less because it covers a set period. <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-is-permanent-life-insurance-and-how-does-it-work\/\" data-dig-id=\"LP-LifeInsurance-34307-1cd867d4\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Permanent life insurance\" class=\"rbc-link-format\">Permanent life insurance<\/a> provides lifelong coverage and typically costs more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-financial-information\">Financial information<\/h3>\n\n\n\n<p>Underwriters typically ask about your income and overall financial picture. The goal isn\u2019t to pry \u2014 it\u2019s to make sure the amount of insurance makes sense based on your circumstances.&nbsp; \u201cThe average-sized policy is approved with limited financial information,\u201d says Fogarty. \u201cFor example, we\u2019ll usually ask about your income and net worth.\u201d For larger amounts of life insurance, underwriters may take a closer look at your financial picture.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-existing-life-insurance\">Existing life insurance<\/h3>\n\n\n\n<p>Underwriters also look at any coverage you already have. If you\u2019re applying for additional coverage, they want to understand how it all fits together. <\/p>\n\n\n\n<p><strong>Learn more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-affects-your-life-insurance-premiums\" data-dig-id=\"LP-LifeInsurance-34307-66db41f3\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"What Affects Your Life Insurance Premiums?\" class=\"rbc-link-format\">What Affects Your Life Insurance Premiums?<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-does-the-process-of-underwriting-work\">How does the process of underwriting work?<\/h2>\n\n\n\n<p>Once you hit submit, your application moves into underwriting. From there, the process typically follows a few key steps.<\/p>\n\n\n\n<p>\u201cThe process depends on the type of policy, the face amount, and the complexity of the case,\u201d says Fogarty. \u201cBut in today\u2019s world, more and more applications are being approved at the point of sale.\u201d<\/p>\n\n\n\n<p>For individuals with more complex health history, here\u2019s a rough roadmap of a typical process:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-1-initial-review\">Step 1: Initial review<\/h3>\n\n\n\n<p>An underwriter reviews your application to see whether there\u2019s enough information to make a fast decision. That includes your health and lifestyle answers, coverage amount requested, and any other relevant details.<\/p>\n\n\n\n<p>If the application is straightforward, a decision may be made quickly \u2014 sometimes even the same day. \u201cFor many people with straightforward medical histories, applications can move through quickly,\u201d says Fogarty. AI-backed models can also help to underwrite those cases. \u201cThat frees up our underwriters to focus on the cases that need a closer look,\u201d she adds.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-2-follow-up-as-needed\">Step 2: Follow-up as needed<\/h3>\n\n\n\n<p>If clarification is required, you may be asked to provide additional information. \u201cBe open and honest on your application,\u201d says Fogarty. \u201cIf there\u2019s a complex medical history, the underwriter may access copies of your records from your doctor.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-3-medical-evidence-when-required\">Step 3: Medical evidence when required<\/h3>\n\n\n\n<p>Depending on your age and the coverage amount, you may need to complete a medical exam or provide lab samples.<\/p>\n\n\n\n<p>This can include:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>A paramedical exam to collect height, weight, blood pressure, and pulse<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>A blood test<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>A urine sample<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>A health interview conducted by phone<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Not every applicant will need medical testing. Many policies today can be approved without fluids, especially at certain coverage levels.<\/p>\n\n\n\n<p>\u201cThere\u2019s a lot your blood and urine can tell us, but we also have other ways to gather the information we need. At RBC Insurance, we\u2019re working to avoid taking these body fluids, so more people can buy life insurance without the process feeling as intrusive,\u201d says Fogarty.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-step-4-risk-assessment-and-decision\">Step 4: Risk assessment and decision<\/h3>\n\n\n\n<p>Once all required information is gathered, the underwriter evaluates the overall risk and determines:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether coverage is approved<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The amount of coverage offered<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The premium and terms<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>In some cases \u2014 particularly for higher coverage amounts or unusual risks \u2014 an application may require additional internal review before a final decision is made.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-information-is-required-for-underwriting\">What information is required for underwriting?<\/h2>\n\n\n\n<p>Depending on the policy and coverage amount, you. will be asked to provide:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>A completed health and lifestyle questionnaire<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Information about existing life insurance policies<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The names and relationships of your beneficiaries<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Depending on the coverage amount, or if you are purchasing life insurance for a business, you may also be asked to provide financial statements or tax documents.<\/p>\n\n\n\n<p>Not every applicant will need to provide all of these. Requirements vary based on your age, health history, and the amount of coverage requested.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-outcomes-of-underwriting-for-life-insurance\">What are the outcomes of underwriting for life insurance?<\/h2>\n\n\n\n<p>Once underwriting is complete, you\u2019ll get a decision. There are four main possibilities \u2014 and none of them are personal. They\u2019re simply based on how your health and risk factors fit within the insurer\u2019s guidelines.<\/p>\n\n\n\n<p>Here\u2019s what each one generally means:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-approved-as-standard\">Approved as standard<\/h3>\n\n\n\n<p>This is the straightforward outcome: You\u2019re approved at the regular premium rate. In underwriting terms, \u201cstandard\u201d means your overall risk is considered typical for someone of your age and sex, based on long-term data. Generally, you get the coverage you applied for at the premium quoted.<\/p>\n\n\n\n<p>\u201cStandard just means that you have no health issues that would warrant a surcharge, and that you\u2019re expected to live as long as most people your age without an impairment,\u201d says Fogarty.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-approved-with-a-rating\">Approved with a rating<\/h3>\n\n\n\n<p>You\u2019re approved, but at a higher premium. This typically happens when there\u2019s a health condition or risk factor that increases the likelihood of an early claim. The insurer adjusts the price to reflect that.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-postponed\">Postponed<\/h3>\n\n\n\n<p>Based on the available information, this means the insurer can\u2019t make a final decision right now. Often, it\u2019s about timing. Maybe you\u2019ve recently started a new medication, are in the middle of treatment, or are waiting on test results. In many cases, you can reapply once things are more stable. \u201cA postponement isn\u2019t an outright \u2018no,\u2019\u201d says Fogarty. \u201cIt\u2019s usually a \u2018not right now.\u2019\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-declined\">Declined<\/h3>\n\n\n\n<p>A decline means the insurer can\u2019t offer coverage under its current guidelines. That can be disappointing, but it\u2019s not always the end of the road.<\/p>\n\n\n\n<p>\u201cJust because one company thinks you\u2019re uninsurable, there are many insurers out there with many different approaches, risk tolerances, and products,\u201d says Fogarty.<\/p>\n\n\n\n<p>In some cases, you may qualify elsewhere or be eligible to apply again in the future if your situation changes. \u201cWhat they\u2019re looking for is stability,\u201d says Fogarty. \u201cIf you\u2019re not insurable today, ask when you might be reconsidered. It could be a timing issue.\u201d <\/p>\n\n\n\n<p>You may also want to explore alternative options. For example, RBC Insurance offers <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/guaranteed-life-insurance-how-it-works\/\" data-dig-id=\"LP-LifeInsurance-34307-db18d6c9\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Guaranteed Acceptance Life Insurance\" class=\"rbc-link-format\">Guaranteed Acceptance Life Insurance<\/a>, which does not require a medical exam or health questionnaire. Coverage amounts are generally lower and premiums higher than fully underwritten policies, but it can provide a starting point for protection.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-take-the-next-step\">Take the next step<\/h2>\n\n\n\n<p>Underwriting might sound technical, but it\u2019s really about one thing: making sure life insurance does what it\u2019s supposed to do when it matters most.<\/p>\n\n\n\n<p>If you\u2019ve been putting off applying because it feels complicated or invasive, you\u2019re not alone. But in many cases, it\u2019s more straightforward and less expensive than people expect. \u201cFor some people, you might sit with an advisor and know the same day that you\u2019ve been approved,\u201d says Kristine Fogarty.<\/p>\n\n\n\n<p>And if the answer isn\u2019t what you hoped for? That doesn\u2019t always mean the door is closed. Sometimes, it just takes a conversation.&nbsp; \u201cA good advisor is worth their weight in gold,\u201d she says. \u201cThey can guide you through the paperwork and questions.\u201d<\/p>\n\n\n\n<p>For many families, the monthly cost of term life insurance can be less than a streaming subscription or a few takeout dinners. But the protection it provides can make an enormous difference if something unexpected happens.<\/p>\n\n\n\n<p>\u201cPeople think insurance is more expensive than it is,\u201d says Fogarty. \u201cEven with minor health issues \u2014 what do you have to lose by applying? Life insurance gives peace of mind.\u201d <a href=\"https:\/\/silver.rbcinsurance.com\/request-a-call\/personal-insurance\/contact-us\/index.html\" data-dig-id=\"LP-LifeInsurance-34307-d2d39a53\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Talk to a licensed RBC Insurance advisor\" class=\"rbc-link-format\">Talk to a licensed RBC Insurance advisor<\/a> to understand your options. Because at the end of the day, this isn\u2019t about paperwork \u2014 it\u2019s about protecting the people who depend on you.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-about-insurance-underwriting\">FAQs about insurance underwriting<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-is-underwriting-always-required-for-life-insurance\">Is underwriting always required for life insurance?<\/h3>\n\n\n\n<p>Yes. Every life insurance application goes through underwriting in some form. In many cases, automated tools and predictive models now support the review process, which can speed up decisions for straightforward applications. More complex cases may still require additional medical information or documentation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-long-does-underwriting-take-for-insurance\">How long does underwriting take for insurance?<\/h3>\n\n\n\n<p>It depends on the policy, coverage amount, and medical history. Some applications are approved instantly. Others may take longer if additional records are required.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-should-i-do-if-i-m-denied-insurance-coverage\">What should I do if I\u2019m denied insurance coverage?<\/h3>\n\n\n\n<p>A decline isn\u2019t always final. It may be related to timing, a recent diagnosis, or a condition that needs to stabilize. And a decision from one insurer doesn\u2019t necessarily mean you won\u2019t qualify elsewhere \u2014 different companies have different guidelines, risk tolerances, and products. You can also explore options, such as <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/guaranteed-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-34307-d9a71c77\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Guaranteed Acceptance Life Insurance\" class=\"rbc-link-format\">Guaranteed Acceptance Life Insurance<\/a>, which does not require a medical exam or health questionnaire and generally provides automatic acceptance.<\/p>\n\n\n\n<div class=\"wp-block-rbc-section-inner-block  section-inner block-wpr bg-light-blue rounded-corners pos-rel pad-l pad-r mob-pad-r centered-block mob-pad-l pad-t mob-pad-t pad-b mob-pad-b\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading has-text-align-center mar-t mar-b-hlf mob-mar-b-hlf mob-mar-t\" id=\"h-rbc-life-insurance\">RBC Life Insurance<\/h2>\n\n\n\n<p class=\"has-text-align-center mar-b-hlf mob-mar-b-hlf pad-r mob-pad-r pad-l mob-pad-l has-text-reg-font-size\">Protect Your Loved Ones With Dependable Life Insurance.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button aligncenter btn is-style-primary primary\"><a class=\"wp-block-button__link has-text-lg-font-size has-custom-font-size wp-element-button\" href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" rel=\"noreferrer noopener\" data-dig-id=\"LP-283-476a44f4\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Get a quote-https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html \">Get a quote<\/a><\/div>\n<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center mar-t-hlf mob-mar-t-hlf pad-b mob-pad-b has-text-reg-font-size\"><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/\" data-dig-id=\"LP-273-18de2c2e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn More\" class=\"rbc-link-format\">Learn More<\/a><\/p>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse2de7ba0a\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse2de7ba0a\" data-dig-id=\"LP-10384-2de7ba0a\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things Our Lawyers Want You to Know\"><div>Things Our Lawyers Want You to Know<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse2de7ba0a\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"has-text-sm-font-size\">*Home and auto insurance products are distributed by RBC Insurance Agency Ltd. and underwritten by Aviva General Insurance Company. In Quebec, RBC Insurance Agency Ltd. Is registered as a damage insurance agency. As a result of government-run auto insurance plans, auto insurance is not available through RBC Insurance in Manitoba, Saskatchewan and British Columbia.<\/p>\n\n\n\n<p class=\"has-text-sm-font-size\">This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Underwriting is an important part of applying for life insurance. Learn how underwriters assess risk and what factors they consider. <\/p>\n","protected":false},"author":208,"featured_media":34313,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/new-rbci-design.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[54],"tags":[4],"article-type":[80],"ppma_author":[169],"class_list":["post-34307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","tag-life-insurance","article-type-advice-learning"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What is Insurance Underwriting and How Does it Work? A Guide | RBC Insurance<\/title>\n<meta name=\"description\" content=\"Underwriting is an important part of applying for life insurance. Learn how underwriters assess risk and what factors they consider.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/what-is-underwriting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Insurance Underwriting and How Does it Work? A Guide | RBC Insurance\" \/>\n<meta property=\"og:description\" content=\"Underwriting is an important part of applying for life insurance. 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