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.
An insurable interest anticipated to have a better or lower-than-average loss experience. Based on this prediction, preferred risks generally pay lower premiums than do standard risks.
a risk that would be given a favorable rate
A person considered less of a risk than the standard risk. Premium The payment, or one of the periodic payments, that a policyholder makes to own an insurance policy or annuity.
A Preferred Risk is one that is considered by insurance companies to be less likely to have an accident. Example: Many years with no tickets or accidents and more than two or three years of continuous prior insurance.
A person who has good physical health, a low risk occupation, or other characteristics that tend to mean a greater prospect for living longer than the average person.
An applicant or insured that represents lower risk than the standard category that was used to calculate the premium rate. This usually results in lower premiums.
That insurance applicant possessing lower than average loss expectancy.
A risk that is considered to be better than the Standard Risk.
An insurance classification indicating a risk that is superior to the average risk on which the rate has been calculated and thus eligible for a reduced rate.
A risk whose physical condition, occupation, mode of living and other characteristics indicate a prospect for longevity superior to that of the average longevity of unimpaired lives of the same age.
A class of risk that is considered to be particularly desirable.
A positive characterisic of someone seeking to be insured. Usually means a better likely hood for long life, and usually means a lower premium.
A risk considered better than that on which a premium was calculated.
Any risk considered to be better than the standard risk on which the premium rate was calculated.
Preferred risk refers to the general health of the individual applying for insurance. All insurance companies have several categories of risk that allow the insurance company to properly price the individual risk associated with each application for life insurance. A Preferred Risk is considered to be an individual in very good health with an above average life expectancy.
A person whose physical condition, occupation, lifestyle and other characteristics indicate a life expectancy higher than the average for individuals in an age group. A person who is rated preferred will pay a lower premium than a standard or substandard risk for a given policy. See Standard Risk, Substandard Risk, and Super-Preferred Risk.
An insured or applicant for insurance who has a lower expectation of incurring a loss than the standard applicant and can obtain favorable premiums.
A premium classification that is better than standard risk, but not as low a premium as the preferred best rating.
Any risk considered to be better than the average risk on which the premium rate was based.