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LSDefine

Simple English definitions for legal terms

chartered life underwriter

Read a random definition: legatarius

A quick definition of chartered life underwriter:

A chartered life underwriter is a person who has completed specific requirements to become an expert in life insurance. They help people understand and choose the right life insurance policies for their needs. An underwriter is someone who decides whether to provide insurance coverage and how much it should cost. They work for insurance companies and help protect people from financial loss due to unexpected events.

A more thorough explanation:

A Chartered Life Underwriter (CLU) is an underwriter who has met the requirements set by The American College (formerly The American College of Life Underwriters) to be designated as a life insurance underwriter. They are responsible for assessing the risk of insuring a person's life and determining the appropriate amount of coverage and premium to charge.

For example, if someone wants to purchase a life insurance policy, a CLU will review their medical history, lifestyle habits, and other factors to determine the likelihood of them passing away during the policy term. Based on this assessment, the CLU will determine the appropriate amount of coverage and premium to charge.

The term "underwriter" comes from former British insurance practices where investors would insure cargo for shippers. The insurers would add their signatures and write their names under those of the shipper, hence the term "underwriters." In the securities market, an underwriter is a person or entity, such as an investment banker, who guarantees the sale of newly issued securities by purchasing all or part of the shares for resale to the public.

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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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