Question

Who is considered a "Sub Standard Risk" in insurance?

a.

A person with a high net worth

b.

A person with a low risk of illness or injury

c.

A person with an above-average health condition and lifestyle

d.

A person considered an under-average or impaired insurance risk due to various factors

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (d).A person considered an under-average or impaired insurance risk due to various factors Explanation:A "Sub Standard Risk" in insurance refers to a person who is considered an under-average or impaired insurance risk due to various factors such as physical condition, family or personal history of disease, occupation, residence in unhealthy climate, or dangerous habits.

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