1 One-time AD: requires a one-time modification. 2  Recurring AD: requires a check or service to be performed on an ongoing basis at specific intervals.  N/A AD: a not applicable AD, but is still noted to sohw awareness of its existence.
Not all life insurance policies are underwritten, but because some are it is important to understand what it means. Underwriting is a term used by life insurers to describe the process of assessing risk, ensuring that the cost of the cover is proportionate to the risks faced by the individual concerned. People with the same or similar risk pay the same or similar premium rates.
Underwriting is when you have to hold your breath, cross your fingers, and hope you don't get any bad news from the lender. It's the final and most intensive examination of your mortgage application package. If you clear the mortgage underwriting process, it's all downhill from there.