An Insured to whom the basic rating guidelines of an Insurance Company can be applied, without any restrictions.
A person possessing an average likelihood of loss.
An average risk as determined by underwriting.
A Standard Risk is one that is regarded by insurance companies as normal and insurable risks at the company' basic rate. Preferred and Non-Standard risks are calculated from the company's base rate by surcharges (an increase of base rates) or discounts (a decrease in base rate).
Average person who does not require additional rating or extra restrictions.
An applicant or insured who is considered to have a normal, or average, probability of a loss based on health, a vocation and lifestyly.
A person that, in accordance with the providers underwriting standards, is qualified to insurance protection without special rating or other restrictions.
Person who, according to a company's underwriting standards, is entitled to insurance protection without extra rating or special restrictions.
Person who, according to an insurer's underwriting standards, is entitled to purchase insurance without paying an extra premium or special restrictions.
For insurance purposes, a person who is considered to have an average risk of loss of life based upon their medical condition and history, avocation and lifestyle.
A risk that is on a par with those on which the rate has been based in the areas of health, physical condition, and morals. An average risk, not subject to rate loadings or restrictions because of poor health.
The risk level of an applican't who meets given physical and occupational requirements. Below average risks are termed â€˜preferred risks,â€(tm) while those of above average risks may be denied coverage.
Standard risk is an underwriting classification that refers to the overall health of the individual applying for life insurance. A standard risk is an individual that is in average health with an average life expectancy.
The classification of an applicant for a life insurance policy who fulfills the physical, occupational, and other requirements on which most of a company's policies are issued. Someone whose characteristics are more favorable may be classified as a “Preferred Risk”. When the characteristics are less favorable, the applicant may be characterized as “Rated”, or refused coverage altogether.