Definitions for "Preferred risk"
A person classified as an above-average risk because the person's physical condition, health history, occupation, and/or lifestyle indicate the probability of a lower-than-usual mortality rate.
An insurance underwriting classification that calls for you to pay lower premiums than other insured persons because you have a lower risk of incurring a loss.
In life insurance, a person whose physical condition, occupation, personal habits and hobbies and other characteristics indicate the potential for strong longevity. If you are a preferred risk, you may be eligible for a lower premium than a person who is a standard or rated risk.