Final answer:
The term that accurately defines an underwriter's assessment of information on a life insurance application is Underwriting Evaluation.
Step-by-step explanation:
The correct term that defines an underwriter's assessment of information on a life insurance application is Underwriting Evaluation.
Underwriting evaluation refers to the process of reviewing and analyzing the information provided in a life insurance application to determine the level of risk involved in insuring an individual's life. It involves assessing various factors such as the applicant's age, health condition, lifestyle, occupation, and medical history.
By conducting underwriting evaluations, insurance companies can determine the appropriate premium rates and coverage limits for policyholders based on the assessed risk.