Sentences with phrase «risk for the insurance company»

Each of us carries some kind of risk for an insurance company.

A higher life cover / sum assured translates to a higher risk for the insurance company in the unfortunate event that the policyholder passes away while the policy is in force.

A vehicle driven by multiple drivers increases risks for insurance companies, and they therefore charge higher premiums.

Dangerous occupations represent much greater risk for insurance companies, and you are likely to pay for that risk with a higher insurance premium.

Therefore, young people are considered as low risk for insurance companies.

You may not realizing it, but taking steps to make your home more secure reduces risks for the insurance company as well as you, and it means you qualify for lower rates.

More people typically translates into more risks for insurance companies (this is why insurance costs in cities are generally far higher than rates in rural areas).

This creates additional risk for the insurance company, and that is why the premiums you pay will be higher.

Chambers said those policies are expensive and difficult to price because there are unlimited risks for the insurance company.

The impact of climate change on the economy will have an increased liability risk for insurance companies.

An insurance applicant who has a history of being late on bill payments and who often opens and closes savings or credit accounts could pose an unacceptable risk for an insurance company.

Most likely you are in good health and, therefore, will pose little risk for the insurance company.

Each of these policy alterations decreases risk for the insurance company, and the company can then, in turn, offer you lower premiums.

This introduces too many risks for the insurance company, because they have no way of calculating the possible risks of the policy.

These and several other personal details will be assessed in terms of risk for the insurance company to cover.

It's a safe assumption a policy worth $ 1 million will get more scrutiny than one of a lesser amount simply because it represents a greater risk for the insurance company.

Actually, insuring more cars relates to a lower risk for insurance companies, not more.

20 year term life insurance is more expensive than 10 year term life due to the increased risk for the insurance company.

More people typically translates into more risks for insurance companies (this is why insurance costs in cities are generally far higher than rates in rural areas).

Loss of vision, hearing, and other age - related diseases can mean additional risk for the insurance companies.

The reason is that the premiums of a permanent insurance policy cover not only the raw cost of insurance, but are partially allocated to a reserve that both helps to cover future costs of insurance and reduces the amount at risk for the insurance company over time.

Because it's basically like a down payment that minimizes risk for your insurance company.

Term insurance is a lower financial risk for the insurance company than other types of coverage because there are no increasing cash value features and there is a limit to the length of time the death benefit will be guaranteed.

These structures pose risks for insurance companies that newer homes don't, and insuring one of these classic buildings is sometimes a tricky process and may necessitate the purchase of an HO - 8 policy, designed specifically for older structures, rather than an HO - 1, 2, 3, or 5 policy.

As a former Fellow in the Society of Actuaries, I was in the vanguard of those trying to apply actuarial principles to risk management, both when I managed risks for insurance companies, worked for non-insurance organizations, and manage money for upper middle class individuals and small institutions.

Like in any insurance program, companies in the automobile insurance industry use actuaries to determine what is at risk for an insurance company when it supplies a customer with any type of insurance.

This is fair and sensible; it means that those owners and drivers that present a lower risk for insurance companies do not have to take on the costs of those that present higher risks.

Exclusions are kept in a policy to mitigate the most common and potential risk for the insurance company.

Guaranteed cash values can result in significant risks for the insurance company, if the guarantee exceeds the economic value of policyholders» rights under the contract and the value of reserves hold.

Finally, you might also want to think about getting a garage as vehicles that are stored in a garage are typically going to get lower rates, as these are the vehicles that present the least risk for the insurance companies.

Some insurance companies such as Prudential and Metlife may forgive one moving violation that has occurred within the past 36 months, but insurance applicants with more than one moving violation on their driving record are immediately identified as being much poorer risks for the insurance company.

Accident - free Driving History Discounts — If you've been driving for an extended period of time with no collisions, then you've proven yourself to be a safer risk for your insurance company and, therefore, deserving of lower rates.

Therefore, the Sum - at - risk for the insurance company remains constant.

Your Insurability Score is about YOU as a driver and what role you and your behaviors play in creating risk for insurance companies.

Insurability refers to the absence of a large amount of risk for the insurance company to provide coverage to the insured, making the insured person eligible for life insurance coverage.

Statistically, men have a higher risk for insurance companies as they are involved in more accidents than are women, according to a highway traffic study.

At the time of issue, the entire $ 100,000 is at risk, but as cash value accumulates, it functions as a reserve account, which reduces the net amount at risk for the insurance company.

To drive your rates down, consider opting for a higher deductible (to minimize risk for insurance companies), taking a defensive driver course, cleaning up your DMV record, getting a good driver discount, and opting out of collision or comprehensive coverage if you have an old car.

The business of insuring people against the statistical odds of physically expiring within the time frame of a term of policy coverage is fraught with financial risk for an insurance company.

An applicant typically goes through a medical exam to determine whether he has high blood pressure or other signs of potential health issues that may result in premature death for the applicant and increased risk for the insurance company.

Your car being safe means a lower risk for the insurance company and it will reduce the premium.

Why are N.C. homes less of a risk for insurance companies?

As the cash value grows, the risk for the insurance company declines.

Such things as age, driving record, gender, and type of work you are in are all considered in determining the risk for the insurance company.

Due to the fact that the life insurance policy does not pay out until both the insured individuals die, the risk for the insurance company is statistically less — as a result, the premium paid for the second to die policy is cheaper.

Those with poor credit history, bad driving records, or a history of making frequent claims each pose a risk for insurance companies; the good news is, there are several things you can do to lower the amount of risk you pose in the eyes of an insurance provider.

It is simply too big a risk for insurance companies to take with the standard homeowners policy.