Rated Policy
Definition of "Rated policy"
Statement in which a life insurance applicant is charged a higher-than-standard premium to reflect a unique impairment, occupation, or hobby, such as a history of heart disease or a circus performer or sky diver.
Popular Insurance Terms
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Cost per unit of insurance. ...
Life insurance under which an insured receives the face value of a policy if the individual survives the endowment period. If the insured does not survive, a beneficiary receives the face ...
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