An inspection report for life insurance is an extensive report that is done to verify confidential information about a life insurance applicant. Most inspection reports are done only on very large policies, and the majority are done by phone. With some multi-million dollar cases a face to face interview may be required.
If the inspection report is for a business, it will ask about the nature of the business, make up of the business, location, where they do business, and if any air travel or travel to unsafe countries is involved.
Personal information will include health problems, dangerous hobbies, tobacco use, drug/alcohol use, and anything else that affects life insurance risk. They will also ask income and net worth, liabilities, and justification for amount and purpose of life insurance.
Inspection reports are ordered by the life insurance underwriter from private inspection bureaus and are kept confidential from everyone except the life insurance company that made the request.
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If the inspection report is for a business, it will ask about the nature of the business, make up of the business, location, where they do business, and if any air travel or travel to unsafe countries is involved.
Personal information will include health problems, dangerous hobbies, tobacco use, drug/alcohol use, and anything else that affects life insurance risk. They will also ask income and net worth, liabilities, and justification for amount and purpose of life insurance.
Inspection reports are ordered by the life insurance underwriter from private inspection bureaus and are kept confidential from everyone except the life insurance company that made the request.