Individual Risk Premium Modification Plan

Definition of "Individual risk premium modification plan"

Diana Newbert
Diana Newbert William Raveis Real Estate

In group insurance, adjustment of premiums, because of reduced expenses due to economy of scale. Group Me premiums are subject to negotiation and modification because of administrative savings in dealing with large numbers of people. In contrast, a single person cannot negotiate his or her premium rate because each policy is handled individually.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ