Definitions for "Standard risk class"
A risk class made up of persons whose anticipated likelihood of loss is regarded as "average". People in this class pay standard premiums. Most insured persons are included in the standard risk class.
A class of individuals whose anticipated mortality or morbidity, according to a company's underwriting standards, is regarded as average. Most insured are included in the Standard Risk Class.
In insurance underwriting, the group of proposed insureds who represent average risk within the context of the insurer's underwriting practices and therefore pay average premiums in relation to others of similar insurability. Contrast with declined risk class, preferred risk class, and substandard risk class.