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

Uncommon Knowledge for Your Life

Uncommon Knowledge for Your Life

See how The Living Balance Sheet® can help you tell financial fact from fiction, so you can achieve financial balance.

6 Tips to Help You Prepare for Natural Disasters

6 Tips to Help You Prepare for Natural Disasters

Disaster can strike at any time. These six tips can ensure you’re prepared when it does.

Success Strategies: Start planning Now

Success Strategies: Start planning Now

Using Life Insurance as part of a potential business succession strategy