What is meant by "evidence of insurability"?

The term "evidence of insurability" refers specifically to documentation that shows an applicant's health status. This information is crucial for underwriters as they assess the risk of providing insurance coverage to an individual. Health status is a fundamental factor in determining whether an applicant qualifies for coverage and, if so, at what premium rates and underwriting conditions.

When evaluating risk, underwriters consider factors such as pre-existing medical conditions, overall health history, and any current health issues. This documentation can include medical records, test results, or health questionnaires that provide insights into the applicant's health profile. A thorough understanding of an applicant’s health allows insurers to make informed decisions about the policy terms and pricing.

In contrast, proof of income, while important for certain types of insurance, does not directly relate to the health risks posed by the applicant. Verification of insurance expenses pertains to financial aspects and historical claims data focuses more on past events rather than health profiles. Hence, they do not serve the same purpose as evidence of insurability in the context of health underwriting.