Insurability refers to the assessment of an individual or entity’s eligibility and suitability for insurance coverage. It involves evaluating various factors such as risk profile and analysis, claims and credit history.

Risk profile assesses the possibility of a claim to occur associated with insuring the individual or entity based on factors like occupation, lifestyle, health condition, and other relevant characteristics. Risk analysis involves a comprehensive evaluation of potential threats and their likelihood of incident.

Insurability assessment helps insurance companies determine the terms, conditions, and premiums for coverage. A favorable insurability evaluation, with a low-risk profile, positive claims history, and good credit history, increases the likelihood of obtaining coverage at more favorable rates and conditions.