A person with a substandard physical condition such as a history of stroke or heart attack who would be a higher probability of risk for the insurer. An applicant who engages in hazardous activities could also be an impaired risk.
Used to describe the condition of a person who would be at higher risk for insurance due to his physical condition or history. This term could also be used to describe a person who participates in hazardous activities.
In life and health insurance, when an applicant has a substandard physical condition or a hazardous occupation or hobby, he/she is an impaired risk. Many insurers avoid such risks, while others specialize in them.
A risk, or subject of insurance, with insurable qualifications below the standard of risks on which the premium for the coverage was based. For example, a Life Insurance prospect with heart disease would be an impaired risk. An individual, who, because of health history or physical limitations, does not measure up to the qualification of a standard risk. (LI,H)
In life and/or health insurance, a person who has an unfavorable health condition, or is exposed to a dangerous occupational hazard that makes him or her substandard. A risk that is substandard, below average or less desirable.
A risk, or subject of insurance, with insurable qualifications below the standard of risks on which the premium for the coverage was based. For example, a Life Insurance prospect with heart disease would be an impaired risk. See Substandard Risk. Contrast with Standard Risk.
an applicant who has pre-existing poor health or is in substandard physical condition, is engaged in dangerous activities, or has a hazardous occupation.