Definitions for "Rate Class"
See Premium Rate Class.
Could be Preferred, Standard, Select, Class 1 or Class 2, depending on the company and the product.
A group of insureds with similar long-term care insurability levels. Extremely healthy people who are less likely to need long-term care are usually placed in healthy classes and receive a preferred rating (lower rates). For example, the price of a long-term care insurance policy typically increases as an individual's rate class decreases.
a specific risk category assigned to you by an insurance company
Type of billing classification or category.
an insurance category, based on how your vehicle is used, which partly determines what your insurance will cost you. More Information.