Classes of insureds consist of insureds who share similar characteristics.____ applicants in the class may qualify for lower premiums.
A) Standard
B) Preferred
C) Unacceptable
D) Substandard

Question

Classes of insureds consist of insureds who share similar characteristics.____ applicants in the class may qualify for lower premiums.
A) ​Standard
B) ​Preferred
C) ​Unacceptable
D) ​Substandard

Quizplus · Accepted Answer

Preferred classes of insureds typically have fewer health risks and are offered lower premiums as a result. Standard classes are generally considered average and may not qualify for lower premiums. Unacceptable and substandard classes represent higher risk individuals and may not even be insurable without significant premium increases.

Classes of Insureds Consist of Insureds Who Share Similar Characteristics