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.

 

Related Content

Caring for Aging Parents

Caring for Aging Parents

As our nation ages, many Americans are turning their attention to caring for aging parents.

The Facts About Income Tax

The Facts About Income Tax

Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.

Can Group, Private Disability Policies Work Together?

Can Group, Private Disability Policies Work Together?

Loss of income from disability has the potential to cause financial hardship. Disability insurance can help.