Insurance

What is Risk?

Risk

[risk]

noun

1.

Risk is the likelihood that an insured event occurs, that is, an event in which the insurance company is likely to pay out a Claim. Insurance companies use Risk when determining whether to insure a home, car, or individual, and when setting Premiums. People with lower Risk generally pay lower rates, and people with higher Risk generally pay higher rates.

Share |
 

Related Content

Combine Your Policies and Save

Combine Your Policies and Save

Some things just make perfect sense in pairs.

Questions to Ask About Medicare

Questions to Ask About Medicare

Take the guesswork out of your IEP or SEP with this helpful article.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.