Impaired Risk (substandard Risk)
In life and health insurance, person whose physical condition is less than standard or who has a hazardous occupation or hobby. For example, an applicant with a history of strokes is regarded as an impaired risk. Some substandard insurance companies specialize in insuring substandard risks, applying an additional premium (surcharge) to reflect the higher probability of loss from a particular impairment.
Popular Insurance Terms
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Same as term Disability Benefit: income paid under a disability policy that is not covered under workers compensation benefits. It is usually expressed as a percentage of the insured's ...
Formal process of setting aside funds on a mathematical basis to provide deferred income benefits. ...
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List of cash allowances for various types of surgeries. ...
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tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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