Individual Risk Premium Modification Plan

Definition of "Individual risk premium modification plan"

Diana Newbert real estate agent
Diana Newbert, Real Estate Agent 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.

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