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Life insurance terminology shouldn't be confusing. Here is the definition of underwriting.
Underwriting is the process by which an insurer determines the risk of insuring you.
Based on the applicant's health status and history, avocations, family health history and paramedical exam results, an underwriter will evaluate the data, compare to the actuarial tables, and assign an underwriting class. This will determine how much the policy will cost the applicant, if s/he accepts the underwriter's offer of coverage.