Underwriting is the process by which an insurance company evaluates your health risk to determine whether to offer you coverage, and if so, at what premium and with what terms. For health insurance, underwriting typically involves completing a medical questionnaire about your health history, current conditions, medications, and lifestyle habits. Based on your answers, the insurer may approve your application as-is, approve it with exclusions for certain conditions, approve it at a higher premium (rated), or decline your application. Underwritten plans generally offer more comprehensive benefits and lower premiums than guaranteed-issue plans because the insurer can control its risk. Underwriting can take anywhere from a few days to a few weeks — longer if the insurer asks your doctor for a statement.