The principles of risk selection and classification within the life insurance industry are the main focus of this chapter. Written by actuaries for underwriters and medical directors, the crucial alignment of underwriting with pricing to achieve risk management and profitability targets is emphasized. Key themes include the differentiation between risk selection and risk classification, the impact of target market and marketing on mortality performance, and the evolving nature of evidence requirements in underwriting. The chapter also explores the impact of various factors on mortality risk, such as age, tobacco use, and lifestyle, and discusses the importance of nonmedical information like criminal and financial history. Additionally, it addresses the challenges of anti-selection, the significance of regulatory and legal constraints, and the need for a strong product-market fit. The chapter concludes by highlighting the importance of effective risk selection and classification in maintaining equity among policyholders and mitigating adverse selection.