Final answer:
The underwriter's decision on whether to approve a Survivorship life policy for a married couple with a healthy wife and a husband with a chronic medical condition depends on the severity and stability of the condition, the husband's life expectancy, and the potential financial impact on the insurance company.
Step-by-step explanation:
The underwriter's decision on whether or not to approve a Survivorship life policy for a married couple depends on the specific details of the husband's chronic medical condition. If the chronic medical condition is severe and has a high likelihood of causing the husband's death in the near future, it is possible that the underwriter may not approve the policy. However, if the chronic medical condition is manageable and does not significantly increase the husband's risk of death, the underwriter may still approve the policy.
To make this decision, the underwriter will assess the husband's medical history, current health status, and the specific terms and conditions of the Survivorship life policy. They will consider factors such as the severity and stability of the chronic medical condition, the husband's overall life expectancy, and the potential financial impact of the policy on the insurance company.
It's important to note that the underwriter's decision is based on an assessment of risk, and their primary goal is to ensure the financial stability of the insurance company. Therefore, even if the policy is approved, the premium for the policy may be higher due to the increased risk associated with the husband's chronic medical condition.