1 One-time AD: requires a one-time modification. 2  Recurring AD: requires a check or service to be performed on an ongoing basis at specific intervals.  N/A AD: a not applicable AD, but is still noted to sohw awareness of its existence.
Not all life insurance policies are underwritten, but because some are it is important to understand what it means. Underwriting is a term used by life insurers to describe the process of assessing risk, ensuring that the cost of the cover is proportionate to the risks faced by the individual concerned. People with the same or similar risk pay the same or similar premium rates.
What An Underwriter Does. Insurance is based on risk. When you get an insurance policy, the insurance company is taking on some of your risk. For example, if you drive a car, you have a risk that your car will be damaged in an accident.Having auto insurance means that if the car does get damaged, the insurance company will pay for the repairs.By having a policy, your risk is lower.or example, if you drive a car, you have a risk that your car will be damaged in an accident. Having auto insurance means that if the car does get damaged, the insurance company will pay for the repairs. By having a policy, your risk is lower.