MLchartDataset catalogue

Step rate premium

Term · Insurance and risk management · MLC-T-INS-003186

An insurance premium structure where the cost of coverage increases at predetermined intervals, typically annually or every few years, based on the insured's age or the duration of the policy. This contrasts with level premiums, which remain constant over the policy's life. Step rate premiums are common in term life insurance and some health insurance plans.

Table 1. Record
IdentifierMLC-T-INS-003186
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003186",
  "term": "Step rate premium",
  "field": "Insurance and risk management",
  "definition": "An insurance premium structure where the cost of coverage increases at predetermined intervals, typically annually or every few years, based on the insured's age or the duration of the policy. This contrasts with level premiums, which remain constant over the policy's life. Step rate premiums are common in term life insurance and some health insurance plans.",
  "url": "https://mlchart.com/terminology/insurance/step-rate-premium/"
}

Record 3,234 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.