These are some of the possible outcomes of underwriting:
- Accept the application with standard terms of the policy;
- Require additional information on the health or financial status of the Insured if there is insufficient information to make a decision;
- Charge a higher premium or impose special terms1 appropriate to the level of risk involved;
- Postpone the application and reassess the risk later;
- Offer a lower sum assured for the same product or another product; or
- Decline the application.
1 Special terms are offered by insurance companies that are outside the standard policy terms and conditions.