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Life Settlement
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DEFINITION OF RATED OR RATE CLASS


The life insurance underwriting process assigns each insured to a class, based on health, occupation, and other lifestyle considerations. An individual's class corresponds to a particular cost of insurance, with above average "ratings" are generally classified as "preferred, "and all things being equal will pay lower premiums than individuals that are "standard" or "sub-standard" risks/rated. Insureds rated "non-insurable" cannot be issued on an individual life insurance policy.