The process also includes rejection of those risks (applicants) that do not qualify for life insurance coverage.
Basically, underwriting a life insurance policy determines if the applicant qualifies for life insurance, and if so, that rate per $1,000 of coverage Weill be charged for the life insurance.
The underwriter uses information available including a physical examination, medical information bureau reports, the individual's medical history, driving record, credit history, age, gender, health, family health history, occupation, hobbies, lifestyle, tobacco use, and family health history, among other risk factors to determine acceptability and pricing for life insurance.