Jargon Buster - Definition of Risk

Please select your letter of choice below to see the list of terms:

Risk

is a term used by insurance companies, whereby the chance of the life insured claiming on an insurance policy is evaluated. Insurers will assess the level of risk for an individual based on a number of factors, these could be health, occupation, lifestyle, gender, abroad travel, family history and other areas.

Each type of insurance policy has a different risk element, for example the difference in terms of evaluating risk between car insurance and life insurance is quite different.

If a person is deemed to be a high risk, it can mean that the insurance policy is offered with a rating (increased premium), exclusion or is declined.


Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.

If you are in doubt of the meaning of any terms, why not email us on info@topquoteuk.com

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