Risk class

Risk class

Risk class, in insurance underwriting, is a grouping of insureds with a similar level of risk. Typical underwriting classifications are preferred, standard and substandard, smoking and nonsmoking, male and female.

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Part of Speech: noun
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Industry/Domain: Insurance
Category: Life insurance
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Related terms

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These organizations are voluntary unincorporated associations of individuals. Each individual assumes a specified portion of the liability under each policy issued. The ...

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Insurance; Life insurance

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