Life Risk Factors
Definition of "Life risk factors"
Written by
Patti Bowman & Lisa Bowman Zeiter, Associate Brokers
Group One Sotheby’s International Realty
Information needed for underwriting a life insurance policy, such as an applicant's age, weight, height, and build; personal and family health record; occupation; and personal habits. These factors decide into which rate classification to place the applicant since they determine to a significant degree the probability of an applicant's length of life.
Popular Insurance Terms
Organization following the format of Lloyd's of London. ...
worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
Figure used in calculating a worker's primary insurance amount (PIA) to determine Social Security benefits in the following manner: calculate the number of years between the worker's ...
Report developed by or supplied by a credit agency to an insurer dealing with the financial standing and character of an insurance applicant. These factors are carefully weighted by the ...
Investment risk associated with the possibility that there is a rise in the interest rates after a fixed income security has been purchased resulting in a decline in that security's price. ...
Maximum limit of liability of an insurance company for a particular claim or kind of loss that is applicable in general to all such claims or losses. This maximum limit of liability is ...
clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...
Minimum amount of coverage for which a company will write a liability insurance policy. ...
Same as term Floater: coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed ...
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